ProLogis Leases 178,000 Square Feet in Mexico
- New Lease Agreements with Two Customers in Recently Developed Industrial Space -
REYNOSA, Mexico, Feb. 5 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has leased approximately 178,000 square feet of recently developed industrial space in Reynosa, Mexico.
"We are pleased to announce new lease activity in Reynosa, bringing our overall leased percentage in the market to 92 percent," said Silvano Solis, ProLogis senior vice president and head of Mexico operations. "The Reynosa area is considered to be a prime distribution and light manufacturing market with excellent access to major highway corridors."
Both transactions included new lease agreements with auto-parts manufacturers. ProLogis leased 94,500 square feet at ProLogis Park Pharr Bridge, Building 11. The facility was completed during the first quarter of 2008 and is now fully occupied.
ProLogis also leased 83,400 square feet at El Puente Industrial Center, Building 3. The 106,200-square-foot facility was completed at the end of August 2008.
"Our customers have chosen locations ideally suited for their specific needs," said Juan Carlos Lopez, market officer for ProLogis in Reynosa. "El Puente Industrial Center enables cost-effective options due to its proximity to a qualified labor force and position at the intersection of two major highways. Likewise, Pharr Bridge Industrial Center offers convenient highway access and is minutes from Reynosa International Airport. In addition, both parks are near the Pharr-Reynosa International Bridge, which is one of the key ports of entry for the U.S.-Mexico border."
ProLogis is one of Mexico's largest providers of industrial and distribution space with 134 distribution facilities and more than 19 million square feet owned, managed or under development as of September 30, 2008.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 136 markets across North America, Europe and Asia. The company has $40.8 billion of assets owned, managed and under development, comprising 548 million square feet (51 million square meters) in 2,898 facilities as of September 30, 2008. ProLogis' customers include 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 February 5, 2009