ProLogis Leases 405,000 Square Feet in Mexico
- Two New ProLogis Customers Fill Recently Completed Distribution Space in Juarez and Mexico City -
MEXICO CITY, July 9 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed two new lease agreements in June 2009 totaling 405,000 square feet (37,600 square meters) for recently developed distribution space in Mexico.
"We are continuing to see production lines move south of the Mexico/United States border in an effort to reduce costs and tap a highly skilled labor force," said Silvano Solis, ProLogis managing director and head of Mexico operations. "In turn, this helps create demand for modern light manufacturing, assembly and distribution space. We are pleased to announce these transactions with our new, well-established customers, who were attracted by our new facilities' high-quality and desirable locations."
The transactions included leases with:
-- Autotek Magna, one of the world's largest automotive parts suppliers, which leased approximately 172,000 square feet of recently completed distribution space at ProLogis Park Izcalli Building One, located in Cuautitlan Izcalli, Mexico, approximately 20 miles north of Mexico City. Autotek Magna will use the space to stamp and assemble auto parts for Ford Motor Company's fuel-efficient Fiesta and distribute the parts to Ford's nearby manufacturing facility. This is the first lease agreement between Autotek Magna and ProLogis.
-- MCS Industries, North America's leading manufacturer of picture frames and wall decor, which leased approximately 233,000 square feet at Centro Industrial Juarez Building 11, a newly constructed distribution center and light-manufacturing facility. Centro Industrial Juarez is located near the Juarez International Airport, at the intersection of Manual Talamas Camandari and Avenida de las Torres. The park is well positioned and surrounded by an abundant labor pool and enables direct access to Mexico's Interstate 45, El Paso's Border Highway and the United States' Interstate 10.
ProLogis is one of Mexico's largest providers of industrial and distribution space with a 19.1-million-square-foot portfolio in 12 markets throughout the county. 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 4,500 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.
Released July 9, 2009