Prologis Leases More Than 270,000 Square Feet in Los Angeles Development
LEED certified speculative project 100 percent leased to 3PL Global
SAN FRANCISCO, March 20, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced it has leased 270,764 square feet in Carson, California. The facility is now 100 percent leased to 3PL Global, LLC, a third-party logistics provider.
The LEED Silver certified building, known as Prologis South Bay Distribution Center, is located within a few miles of the Ports of Los Angeles and Long Beach and proximate to Los Angeles International Airport.
"The Ports of Los Angeles and Long Beach are the two busiest in the entire country and with LAX so close, this South Bay location is in high demand, particularly by customers seeking rarely available large, high quality facilities such as this one," said Kim Snyder, president, Southwest Region, Prologis. "We were pleased to be able to accommodate the needs of 3PL Global and establish a new relationship with this growing business."
"We are pleased to have found this outstanding space in the precise location we desired," said Fred Capriccio, CEO, 3PL Global, LLC. "Prologis made the whole process very easy, including helping us work through improvements to meet our business requirements."
"In addition, the fact that Prologis had achieved LEED Silver certification for the building made us feel even better about our choice," said Michael Cadero, president, 3PL Global LLC.
As of December 31, 2011, Prologis' platform of operating and development properties in Southern California totaled approximately 64 million square feet (5.9 million square meters).
About 3PL Global
3PL Global, LLC, offers warehousing, distribution and logistics services, including pick, pack, case and pallet pick sorting and labeling, shipment tracking, import and export handling, and international and domestic freight services. The company, formerly known as Terry Bowman Group of Logistics, is headquartered in Irvine, California but plans to move its headquarters to the new state-of-the-art Prologis building.
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 December 31, 2011, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 600 million square feet (55.7 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 March 20, 2012