ATLANTA, May 9 /PRNewswire/ -- ProLogis (NYSE: PLD), a leading global provider of distribution services and facilities, today announced the launch of a new master-planned park called ProLogis Park Breckinridge. The new park, comprising 54 acres of land, will support four distribution facilities totaling 550,000 square feet. The park will be located in the strategically located and well known northeast Atlanta submarket, a major commercial area with over 100 million square feet of office and industrial facilities.
Ideally located in the heart of the northeast corridor, the ProLogis Park Breckinridge will offer strategic access to Interstate 85 and the new Boggs Road Interchange -- planned to open later this fall. These two major thoroughfares will connect customers with both the Atlanta metropolitan area and the southeastern United States. The new park will provide customers with immediate visibility from these roadways, giving them both name recognition and directional access to their facility.
Initial plans are to develop two inventory facilities and hold the balance of land for build-to-suit opportunities. ProLogis is set to begin construction next month on the first facility, ProLogis Park Breckinridge, Building #1 totaling 132,000 square feet. The new facility will feature 24-foot clearance heights, 130-foot truck court depths, dock and grade level drive loading in the rear of the building, as well as an ESFR sprinkler system. ProLogis plans to have the facility ready for occupancy by fall 2000. The company states that it has already had indications of interest in this new facility.
"As the need for flexible distribution space in Northeast Atlanta continues to grow, we are strengthening our presence in one of the most strategic distribution hubs in North America," said David Welch, First Vice President for ProLogis and local market officer in the Atlanta area. "This new development allows ProLogis to add more than a half million square feet of distribution space to its portfolio of facilities in the Atlanta market, enabling new and existing customers to benefit from the company's global distribution services."
As one of Atlanta's largest industrial distribution space providers, ProLogis currently owns and operates more than 10.2 million square feet of properties throughout the Atlanta area, and has over 100 acres of land available for build-to-suit opportunities. ProLogis recently finished its fifth and final building in ProLogis Park Sugarloaf -- another ProLogis master-planned park located in northeast Atlanta. ProLogis Park Sugarloaf consists of more than 540,000 square feet of distribution space and serves such customers as Merck & Company, Foxboro and Progressive Lighting.
ProLogis is a leading global provider of integrated distribution services, with more than 1,641 distribution facilities owned and operating throughout North America and Europe. ProLogis has built the industry's first and only global network of distribution facilities with the primary objective of becoming the leading provider of distribution facilities and services. The company expects to achieve this objective through the ProLogis Operating System(TM) and its commitment to be "The Global Distribution Solution" by providing exceptional corporate distribution services and facilities to meet customer expansion and reconfiguration needs globally. As of March 31, 2000, ProLogis had 180.8 million square feet of distribution facilities operating or under development in 98 global markets.