ProLogis Expands Industrial Portfolio in Mexico
- Company Plans Construction of Approximately 500,000 Square Feet in Ciudad Juarez -
JUAREZ, Mexico, Aug. 19 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today plans to develop approximately 500,000 square feet of industrial warehouse space in Ciudad Juarez, Mexico.
ProLogis will begin phase one of development at ProLogis Park Centro Industrial Juarez in Ciudad Juarez, which includes the construction of three buildings totaling approximately 500,000 square feet and the completion of infrastructure for an additional six buildings. Construction is underway, and is expected to be completed in early 2009.
"Companies continue to establish light manufacturing and assembly operations in Ciudad Juarez for its strategic location and proximity to the Mexico-United States border," said Silvano Solis, ProLogis senior vice president and head of Mexico operations. "More and more production lines are moving south of the border in an effort to reduce costs and tap a highly skilled labor force, and thus are creating demand for modern, high-quality, light manufacturing, assembly and distribution space. Our new development in Ciudad Juarez is well positioned to serve our customers in the region."
ProLogis Park Centro Industrial Juarez is located near the Juarez International Airport, at the intersection of Manual Talamas Camandari and Avenida de las Torres. Featuring close access to Mexico's Interstate 45 and the United States' Interstate 110 (Border Highway) and Interstate 10, the park offers convenient highway access to large population centers in both countries. At full build-out the park will comprise 18 buildings and approximately three million square feet of industrial warehouse space.
ProLogis is one of Mexico's largest providers of industrial distribution space, with 131 distribution facilities and more than 18.9 million square feet owned, managed or under development as of June 30, 2008.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released August 19, 2008