ProLogis Leases 113,000 Square Feet in Guadalajara to ZF Group
- Global Automotive Supplier Launching Consumer Aftermarket Business In Mexico; Will Use ProLogis Distribution Center To Serve Markets Throughout Country -
MONTERREY, Mexico, Sept. 10 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 113,000 square feet of industrial space in Mexico to Germany-based ZF Group, a global supplier of automotive parts and equipment.
ZF Group, which owns the Sachs, Lemforder, Boge and ZF Parts brands, will occupy a recently completed ProLogis distribution center in Guadalajara, Mexico. A subsidiary, ZF Trading Mexico, will use the facility to supply distributors and retail centers throughout the country, where it is expanding its business serving the consumer auto parts aftermarket.
"We're pleased to announce this agreement with ZF Group, a world leader in its industry," said Silvano Solis, ProLogis senior vice president and head of Mexico operations. "Like many other companies, ZF Group is expanding operations in Mexico to capitalize on the growth of domestic consumption here and the country's broader transition to a more open, pro-business economy. It's extremely gratifying that they have decided to partner with ProLogis to support this important business initiative."
"We believe the replacement parts market in Mexico offers us a substantial opportunity to build on our company's already strong OEM business here," said Gerardo Varela, General Director for ZF Trading Mexico. "The precision and efficiency of our logistics network will be a key success factor for us, which is why we are partnering with ProLogis, the widely recognized global leader in industrial real estate. We look forward to occupying our new distribution center and realizing the operational benefits it will deliver to our business over the long term."
The new building is part of ProLogis Park El Salto, located in the city's primary industrial corridor and approximately 8 miles from the Guadalajara airport. ProLogis obtained the park site as part of a broader portfolio acquisition last year that included 3.5 million square feet of industrial property and land in both Guadalajara and Mexico City. The building, which will total approximately 224,000 square feet, is the company's first development project in the Guadalajara market.
"We are seeing strong customer interest in Guadalajara from logistics companies serving markets in central Mexico and global contract manufacturers based in the region," said Eduardo Rojo, ProLogis market officer for Guadalajara and Mexico City. "Given the strength of the ProLogis brand and the depth of our customer relationships globally, we are well positioned to capture future opportunities to serve demand arising in this area."
ProLogis is one of Mexico's largest providers of industrial distribution space, with more than 13.6 million square feet owned, managed or under development as of June 30, 2006. In addition to Guadalajara and Mexico City, the company's platform includes high-quality warehouse space in Tijuana, Juarez, Monterrey and Reynosa.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 105 markets across North America, Europe and Asia. The company has $29.9 billion of assets owned, managed and under development, comprising 446.9 million square feet (41.5 million square meters) in 2,523 properties as of June 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 September 10, 2007