Prologis Leases 830,000 Square Feet in Brazil Development
Lease-up of speculative and built-to-suit facilities indicate strong market demand
SAN FRANCISCO, May 7, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, signed three new lease agreements over the past six weeks totaling 830,439 square feet (77,200 square meters) at Prologis CCP Cajamar I in Sao Paulo, Brazil. Two transactions were for speculative developments and the third was a build-to-suit project:
- Cajamar Building 1300: 316,050 square feet (29,400 square meters) pre-leased to a leading global manufacturer of household products. The facility, which will be built to suit the customer's specific requirements, is expected to be completed in November 2012;
- Cajamar Building 1100: 198,339 square feet (18,400 square meters) pre-leased to a leading global supplier of bearings and lubrication systems. The facility is expected to be completed in September 2012; and
- Cajamar Building 100: 316,050 square feet (29,400 square meters) leased to one of the world's largest fashion retailers.
"These new agreements highlight both the strong demand for Class-A logistics space in Brazil, and the strength of our global customer relationships," said Luis Gutierrez, president, Prologis Latin America. "Working collaboratively with our focus customers, we are leveraging our leading platform to deliver a superior product. Our high-quality facilities are built to global standards for functionality, flexibility and security."
Prologis is one of the leading providers of industrial real estate in Latin America with approximately 6 million square feet (560,000 square meters) developed or to be developed in Brazil, and approximately 29 million square feet (2.7 million square meters) of logistics and distribution space in Mexico as of March 31, 2012.
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 metres) 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 7, 2012