ProLogis Leases 205,000 Square Feet in China to Joint Venture Between Sinotrans Liaoning and Nippon Express
- Joint Venture Will Provide Third-Party Logistics Services to Canon, Inc. -
DALIAN, China, July 15 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today it has leased approximately 205,000 square feet (19,000 square meters) in Dalian, China to Nittsu Sinotrans Logistics Dalian LTD., a joint venture between Sinotrans Liaoning Company and Nippon Express.
Nittsu Sinotrans will occupy distribution space at ProLogis Park Dalian Free Port, providing third-party logistics and transportation services to Canon Inc., a world leader in professional business and consumer imaging equipment and information systems. Sinotrans and Nippon Express formed the joint venture in 1992, to combine specialties and together expand its customer base in Dalian.
"We are pleased Nittsu Sinotrans has selected ProLogis Park Dalian Free Port as its new distribution hub in the region," said Ming Mei, president for ProLogis in China. "This is a premier distribution site in northeastern China, especially with its close access to Dalian Free Port and proximity to markets in Korea and Japan."
ProLogis Park Dalian Free Port is a master-planned distribution park comprising approximately 1.4 million square feet (130,000 square meters) of distribution space. The park is located in Dalian Free Port area, immediately adjacent to the Dalian container yard and to land that will be used to accommodate a planned, two-phase expansion of the port taking place through 2010. It also offers easy access to two nearby expressways, as well as Dalian's airport and central business district.
Sinotrans Liaoning Company is a wholly owned subsidiary of Sinotrans, one of China's largest logistics companies offering a variety of services including international freight forwarding, air cargo and international express. Nippon Express is a world leader in logistics design and offers a variety of multi-modal supply chain management services in its network, which spans more than 80 countries.
ProLogis is one of the leading providers of industrial distribution space in China with more than 24.8 million square feet (2.3 million square meters) in operation and under development as of March 31, 2008. Major customers in China include adidas, Best Buy, DHL, L'Oreal, Menlo Worldwide, Nokia, NYK, Samsung, UPS and Yum! Brands.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 121 markets across North America, Europe and Asia. The company has $38.8 billion of assets owned, managed and under development, comprising 526.3 million square feet (48.9 million square meters) in 2,817 properties as of March 31, 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 July 15, 2008