ProLogis Leases 188,000 Square Feet of its Development Portfolio to Two Customers Near Tokyo
October 19 2009 - 7:00AM
PR Newswire (US)
- Two Global Customers, Including Cat Logistics, Expand Presence
With ProLogis - TOKYO, Oct. 19 /PRNewswire-FirstCall/ -- ProLogis
(NYSE:PLD), a leading global provider of distribution facilities,
announced today it has leased 188,000 square feet (17,500 square
meters) during the third quarter to two customers in Japan.
Caterpillar Logistics Services, Inc. (Cat Logistics), the logistics
arm of Caterpillar, the world's largest maker of construction and
mining equipment, diesel and natural gas engines and industrial gas
turbines, will occupy 95,000 square feet (8,800 square meters) at
ProLogis Parc Narita III, near Tokyo. This is Caterpillar's first
lease with ProLogis in Japan; the customer now leases with ProLogis
in multiple locations across the United States, Europe and Asia. In
addition, a global supplier of office products and services has
leased 93,000 square feet (8,600 square meters) of distribution
space at ProLogis Parc Ichikawa I, a distribution facility in
Ichikawa City, near Tokyo. This is the sixth lease agreement
between ProLogis and the customer, which now occupies approximately
1.2 million square feet (107,000 square meters) of ProLogis
distribution space in the United States, Mexico and Japan.
"ProLogis continues to demonstrate the ability to serve its
customers on multiple continents because of its geographically
diverse portfolio," said Mike Yamada, ProLogis president of Japan.
"We are very pleased to welcome both companies to our portfolio in
Japan." ProLogis Parc Narita III is located in the town of
Shibayama, Chiba Prefecture. Comprising 570,000 square feet (53,000
square meters), the newly developed distribution facility is
approximately 40 miles (64 kilometers) northeast of Tokyo and is
adjacent to the Narita International Airport. Sustainable features
at the facility include a solar-powered outdoor lighting system and
a state-of-the-art, pre-cast concrete seismic isolation system.
Completed in November 2008, ProLogis Parc Ichikawa I is a
five-story, 1.3-million-square-foot (125,200-square-meter)
distribution facility. Strategically located along Wangan
expressway and Route 357, a highway connection to major roadways
throughout the region, ProLogis Parc Ichikawa I supports
distribution to the greater Tokyo and Chiba regions. Sustainable
features include a pre-cast concrete seismic isolation system, a
rainwater recycling system and solar-powered outdoor lighting.
Yamada added, "Distribution locations in and around Tokyo have
continued to attract steady interest from our customers. While the
challenging economic environment still plays a large role in
business decisions, many companies continue to look for ways to
consolidate distribution networks from inefficient, older
facilities into newer, state-of-the-art distribution centers to
increase efficiencies. Locating near Tokyo enables customers to
easily reach a population of more than 12 million people and
provides convenient highway access to all areas of the country."
ProLogis is one of the largest providers of distribution space in
Japan with approximately 8.5 million square feet (794,000 square
meters) completed and under development, as well as 98 acres (39.7
hectares) of land available for future development. Major ProLogis
customers in Japan include Kirin Logistics, Yamato Logistics,
Konoike Transport, Costco, Daikin Industries, Sanyo Electric
Logistics and Kintetsu World Express. About ProLogis ProLogis is a
leading global provider of distribution facilities, with more than
475 million square feet of industrial space (44 million square
meters) in markets across North America, Europe and Asia. The
company leases its industrial facilities to more than 4,500
customers, including manufacturers, retailers, transportation
companies, third-party logistics providers and other enterprises
with large-scale distribution needs. For additional information
about the company, go to http://www.prologis.com/. DATASOURCE:
ProLogis CONTACT: media, Mo Sheahan of ProLogis, +1-303-567-5434, ;
or Suzanne Dawson of Linden Alschuler & Kaplan, Inc.,
+1-212-329-1420, , for ProLogis; or investors, Melissa Marsden of
ProLogis, +1-303-567-5622, Web Site: http://www.prologis.com/
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