ProLogis Leases 170,000 Square Feet in Mexico
- Company Signs Agreements With Three Customers in Juarez and Reynosa -
MEXICO CITY, June 10 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed second-quarter lease agreements totaling approximately 170,000 square feet to three customers in Mexico.
"The recent leasing activity within our industrial portfolio in Mexico is encouraging," said Silvano Solis, ProLogis managing director and head of Mexico operations. "While our industry lags the overall economy, we believe we are seeing the bottom of market occupancies and rents, and the continued absorption of modern distribution space will help to support demand as the property markets continue to improve."
Recent activity included leases with:
-- Fagerdala-Singapore Pte, Ltd., an international foam manufacturer and fabricator, specializing in the design and fabrication of polymer foams for cushion packaging and consumer products. The company will occupy 95,000 square feet of previously unleased space at ProLogis Park Centro Industrial Juarez Building 10, located near the Juarez International Airport and near Boulevard Independencia. The building is now fully leased, under Fagerdala Mexico S.A. de C.V., a newly formed Fagerdala entity. -- A manufacturer and distributor of paper products in Reynosa. The company has expanded its current lease of 62,000 square feet to occupy an additional 42,000 square feet of previously unleased space at El Puente Industrial Center. The building is now fully leased. -- PK-Tool and Manufacturing, a precision metal stamping and metal forming company, which will occupy 33,000 square feet at Bermudez Industrial Center Building Two in Juarez, bringing it to be 94 percent leased. The building was part of an earlier portfolio acquisition and not previously occupied.
ProLogis is a leading provider of industrial and distribution space in Mexico with an 18.6-million-square-foot portfolio in 11 markets throughout the country. Additional ProLogis customers in Mexico include Bose Corporation, Black & Decker and Whirlpool.
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 June 10, 2010