ProLogis Leases 84,000 Square Feet in Japan
DENVER, Oct. 14 /PRNewswire/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed third-quarter lease agreements with two customers in Japan, totaling 84,000 square feet (7,800 square meters).
"Our portfolio of newly built distribution space continues to fulfill the needs of our customers," said Mike Yamada, president for ProLogis in Japan. "Our customers remain focused on improving supply chain efficiencies, which drives demand for functional, modern distribution space. We are very pleased to meet the needs of these customers in Japan, and that our high-quality distribution space will help them achieve their business goals."
The transactions included leases with:
-- A wholesaler in the food industry, which will occupy 61,000 square feet (5,700 square meters) at ProLogis Parc Ichikawa I, bringing the five-story, 1.3-million-square-foot (125,200-square-meter) distribution facility to approximately 93 percent leased. Located along the Wangan expressway and Route 357, ProLogis Parc Ichikawa I supports distribution to the greater Tokyo and Chiba regions. -- A Japanese trading company, which will occupy 23,000 square feet (2,100 square meters) of previously unleased space at ProLogis Parc Narita III, located in the town of Shibayama in the Chiba Prefecture of Japan. Comprising 570,000 square feet (53,000 square meters), the distribution facility is approximately 40 miles (64 kilometers) northeast of Tokyo and is adjacent to the Narita International Airport.
ProLogis is the leading provider of distribution space in Japan with approximately 10.9 million square feet (one million square meters) completed and under development, as well as 56 acres (23 hectares) of land available for future development. Major ProLogis customers in Japan include Kirin Logistics, Caterpillar Logistics Services, Inc., Tomy Company, Yamato Logistics, Konoike Transport, Costco, Daikin Industries, Sanyo Electric Logistics and Kintetsu World Express.
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.
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Released October 14, 2010