Prologis Signs 473,000 Square Foot Build-to-Suit Agreement in Japan
Facility to be Developed for Online Retailer MonotaRO
SAN FRANCISCO, May 21, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, announced today that it has signed a build-to-suit agreement for more than 473,000 square feet (43,000 square meters) with MonotaRO Co., Ltd., one of Japan's leading online industrial tool retailers, to construct a new e-commerce distribution hub near Osaka.
Located approximately five miles from Osaka's central business district, Prologis Park Amagasaki 3 will be convenient to two major expressways and a commuter rail station. Construction will commence in November 2012 and is expected to be completed in September 2013.
"We are very pleased to be able to support the continued success of MonotaRO Co., Ltd., an important and repeat customer," said Mike Yamada, president, Prologis Japan. "The rapid growth of e-commerce companies such as MonotaRO, are continuing to fuel demand for our modern distribution facilities in Japan."
Prologis is one of the leading providers 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 March 31, 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 March 31, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 584 million square feet (54.2 million square meters) in 22 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 May 21, 2012