ProLogis Pre-Leases 293,000 Square Feet in Beijing
-Unilever Pre-Leases 160,000 Square Feet at ProLogis Park Tongzhou-
-KX Logistics Pre-Leases 133,000 Square Feet in New Facility at the Same Park-
SHANGHAI, China, Oct. 30 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has pre-leased a 160,000-square-foot (15,000-square-meter) industrial warehouse under construction in China to Unilever, one of the world's leading manufacturers of food and personal care products.
Unilever will occupy the space at ProLogis Park Tongzhou, a master-planned industrial park in Beijing. The company will use the facility as its primary distribution center serving Chinese consumers in Beijing and other markets in northern China.
"We're extremely pleased to announce this new agreement with Unilever, one of our largest global customer accounts," said Ming Mei, president of China operations for ProLogis. "The growth of domestic consumption in China is creating substantial opportunities for companies like Unilever with well-established brands and worldwide reputations for quality and value. We look forward to serving Unilever in Beijing, and to helping them enhance their overall distribution network here."
Mei noted that Unilever leases more than five million square feet from ProLogis in multiple locations in North America and Europe.
Also today, ProLogis announced that it has leased 100 percent of a 133,000-square-foot (12,300-square-meter), distribution center under construction at the same park to KX Logistics, a provider of third-party logistics services for the food industry in China. The company will operate the space for Nestle, PepsiCo and others, serving customers throughout Beijing.
ProLogis Park Tongzhou is located in Beijing Tongzhou Logistics Park, one of three areas in the city designated by the Beijing government for logistics operations. Both buildings are scheduled for completion in the first half of 2008.
ProLogis entered China in 2004 and has since established a leading position as a provider of industrial distribution facilities. The company had 15.5 million square feet (1.44 million square meters) in operation and under development at September 30, 2007. 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 20 countries across North America, Europe and Asia. The company has $34.4 billion of assets owned, managed and under development, comprising 483.0 million square feet (44.9 million square meters) in 2,669 properties as of September 30, 2007. 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 more than 1,300 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released October 30, 2007