Prologis Announces Full Leasing at Prologis Parc Ichikawa II in Japan

TOKYO, March 9 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today a first-quarter lease of 182,000 square feet (16,900 square meters) at ProLogis Parc Ichikawa II to JR East Logistics, a group company of East Japan Railway Company, the largest railway company in Japan.

"We completed construction at ProLogis Parc Ichikawa II in October 2009 and are very pleased to announce full leasing at the facility just four months later," said Mike Yamada, ProLogis president in Japan. "Japan's logistics property market is stabilizing and our customers are becoming more confident about near-term economic conditions. ProLogis is happy to be able to support our customers' new requests for modern and efficient distribution space."

ProLogis Parc Ichikawa II is a five-story, 802,000-square-foot (74,500-square-meter) distribution facility located near Tokyo in the Chiba Prefecture. The park's location gives ProLogis customers excellent access to major national expressways, the Wangan Expressway and the Keiyo Expressway.

JR East Logistics' East Japan Railway Company will use the space as a distribution hub for convenience stores and newspaper stands located within the premises of its train stations throughout the Tokyo metropolitan area.

ProLogis the leading provider of distribution space in Japan with approximately 9.2 million square feet (852,200 square meters) completed and under development, as well as 93 acres (37.6 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.

About ProLogis

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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SOURCE ProLogis