Prologis Signs 810,000 Square Foot Build-to-Suit Agreement in Japan
Facility to be Developed for Major Japanese Online Retailer
SAN FRANCISCO, Sept. 10, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced that it has signed a build-to-suit agreement with Rakuten, Inc. for an approximately 810,000 square foot (75,251 square meter) building in Osaka, Japan. Construction is scheduled to begin in November and is expected to be completed by November 2013.
"We are very pleased to strengthen our relationship with this leading online retailer, an important and repeat customer," said Mike Yamada, president, Prologis Japan. "The rapid expansion of e-commerce companies is continuing to fuel demand for our modern distribution facilities. We look forward to adding this state-of-the art facility to our overall Japan portfolio."
Prologis is a leading provider of industrial real estate in Asia, with approximately 22 million square feet (two million square meters) of logistics and distribution space in Japan as of June 30, 2012. Major Prologis customers in Japan include Hitachi Transport System, Panasonic Logistics, Sagawa Express Group, Nippon Express, Kirin Logistics, Tomy Company, Yamato Logistics, Costco, Daikin Industries, and Caterpillar Logistics Services, Inc.
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 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 10, 2012