ProLogis Leases 240,000 Square Feet to Logistics Companies in Juarez, Mexico
MONTERREY, Mexico, July 18 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 240,000 square feet of distribution space to two customers at a distribution park it is developing in Juarez, Mexico.
Jorsa Logistics, a Juarez-based provider of third-party logistics services, has leased a recently completed, 180,000-square-foot warehouse at the park, known as ProLogis Park Independencia. EP Logistics, also a third-party provider of logistics services, has leased more than 60,000 square feet in a separate facility completed earlier this year. Both companies will use the park to provide regional warehousing and distribution services for clients in Juarez.
"We are very pleased to announce these new agreements," said Silvano Solis, senior vice president and regional director for ProLogis in Mexico. "Demand for modern industrial space in the Juarez market remains strong given the city's large labor pool and the access it offers to markets in the United States. We are fortunate to have established a high-quality portfolio of land and assets here, with which we are able to serve the warehousing requirements of multinational companies involved in border trade. We look forward to serving our customers at their new locations, and to expanding our Juarez platform through additional acquisition and new development."
ProLogis Park Independencia is located approximately six miles from the Zaragoza Bridge, one of the primary border crossings between Juarez and El Paso, Texas. Phase II of construction at the park, comprising two facilities totaling more than 212,000 square feet, is scheduled to begin in the second half of 2007. ProLogis currently operates over 1.21 million square feet of industrial space at other locations in Juarez.
ProLogis is one of the largest providers of industrial distribution space in Mexico with more than 12.7 million square feet owned or under development, concentrated around the markets of Mexico City, Guadalajara, Tijuana, Juarez, Reynosa and Monterrey. The company also has land positions available to support an additional 12 million square feet of development.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 103 markets across North America, Europe and Asia. The company has $28.6 billion of assets owned, managed and under development, comprising 436.9 million square feet (40.6 million square meters) in 2,525 properties as of March 31, 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 July 18, 2007