ProLogis Leases 88,000 Square Feet in Mexico to Hitachi Transport System
- Company Will Occupy Distribution Center At New ProLogis Industrial Park Near Monterrey Airport -
DENVER, May 15 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased more than 88,000 square feet of industrial space in Mexico to Hitachi Transport System (America), Ltd., a global provider of third-party logistics services.
Hitachi will occupy space in a recently completed distribution facility at ProLogis Park Monterrey Airport. The 250-acre, master-planned park is less than three miles from General Mariano Escobedo International Airport, the primary airport for Monterrey and the surrounding metropolitan area.
Hitachi currently leases more than 2.1 million square feet from ProLogis at other locations across Japan, Mexico and the United States.
"Hitachi is a leader in the global logistics services industry, and we're extremely pleased to be expanding our relationship with them through this new agreement," said Silvano Solis, senior vice president and regional director for ProLogis in Mexico. "Our broad industrial platform here is enabling us to effectively serve companies involved in the export of products to U.S. markets, as well as growing domestic consumption inside Mexico. We look forward to working with Hitachi at their new location in Monterrey and to once again serve as their distribution facilities provider."
"ProLogis is a strategic partner for Hitachi Transport System, with whom we have developed a strong relationship at a global level," said Teddy (Taiji) Katsumata, senior vice president for Hitachi Transport System (America), Ltd. "It made sense for us to turn to ProLogis again when planning our first distribution center in Monterrey, one of Mexico's most important distribution hubs. We look forward to occupying our new facility there and to delivering world-class service to our customers from this location."
ProLogis Park Monterrey Airport is designed to accommodate both light manufacturing and bulk distribution facilities. It is located in the Apodaca submarket, the primary industrial corridor in the Monterrey market. At full build-out, the park will comprise 16 buildings totaling 3.4 million square feet. Construction of the second facility at the park, which will total 125,000 square feet, is scheduled to be completed in the second half of 2007.
"This park offers direct access to the airport and to local highways that connect Monterrey to markets in Texas and the rest of the U.S.," said Federico Cantu, ProLogis vice president and Monterrey market officer. "We expect to see continued strong demand from customers for distribution space at this strategic location."
ProLogis is one of the largest providers of industrial distribution space in Mexico with total platform comprising approximately 12 million square feet, concentrated around the markets of Mexico City, Guadalajara, Tijuana, Ciudad Juarez, Reynosa and Monterrey. The company also has land positions available to support an additional 9 million square feet of development. In addition to Hitachi Transport, other global customers in Mexico include General Electric, Exel Logistics, Whirlpool, Celestica and Tyco Electronics.
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 www.prologis.com.
Released May 15, 2007