Prologis Signs One Million Square Foot Build-To-Suit with Amazon.com
SAN FRANCISCO, Jan. 22, 2013 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, announced today it signed a lease agreement with Amazon.com to build a more than one million square foot distribution center.
Amazon's fulfillment center will be constructed on nearly 90 acres of land at Prologis Park Tracy Phase II, in Tracy, CA, a strategic location proximate to major west coast metro areas, including the San Francisco Bay Area.
"We place tremendous value on our global customer relationships, and are pleased to provide Amazon with strategic distribution space in eight markets across the globe," said Scott Lamson, president, Northwest Region, Prologis Americas. "The growth of e-commerce is driving strong demand for large facilities, not only from our online retail customers, but with traditional brick and mortars as well."
Upon completion of Amazon's facility, Prologis Park Tracy Phase II will be at full occupancy, with three distribution facilities totaling about 2.2 million square feet.
Prologis, Inc. is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of Sept. 30, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 565 million square feet (52.5 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
SOURCE Prologis, Inc.
Released January 22, 2013