Prologis Signs Two Build-to-Suit Agreements in China Totaling 460,000 Square Feet
SAN FRANCISCO, Sept. 19, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global provider and operator of logistics infrastructure, today announced it has signed two build-to-suit agreements in China, one with DHL and the second with Deppon, totaling approximately 460,000 square feet (42,745 square meters). Construction will begin in November and is expected to be completed by August 2013.
The facilities will be located in China's East Region at the Prologis Jiaxing Logistics Center with immediate access to major expressways. In addition to the two build-to-suit projects, the center will also include a speculative building totaling 137,000 square feet (12,755 square meters) which will be completed at the same time.
Those three buildings represent phase two of the center. Phase one, a 258,300 square foot (24,000 square meters) single-floor speculative development, has been fully operational since 2009. With completion of phase two, the center will be at capacity.
"We are very pleased to be able to support the continued success of these leading logistics providers, both important and repeat customers," said Gary Anderson, chief executive officer, Europe and Asia. "Demand for our facilities has been strong and we look forward to adding these new developments to our overall China portfolio."
Prologis, Inc. is the leading global provider and operator of logistics infrastructure, focused on global and regional markets across the Americas, Europe and Asia. As of June 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 569 million square feet (52.9 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 September 19, 2012