Prologis Acquires 1.8 Million Square Foot Portfolio in Nashville
SAN FRANCISCO, Jan. 8, 2014 /PRNewswire/ -- Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced it acquired six Class-A logistics facilities totaling 1.8 million square feet in Nashville, TN during the fourth quarter of 2013.
The portfolio, with superior access to I-24 and connectivity to the Nashville interstate system, includes assets in both the SouthPark and CentrePointe industrial parks and is more than 90 percent leased to 12 customers, including Nissan Trading Corporation Americas.
"This acquisition is representative of the high quality assets Prologis aims to add to its portfolio in select regional markets as it focuses on future growth," said Mike Brandon, vice president, Prologis. "Nashville has a strong economy supported by diverse industries and these facilities expand our portfolio to better serve our local customers as they continue to grow."
Within the Nashville market, Prologis owns and manages 39 facilities totaling 6.3 million square feet.
Prologis, Inc. is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of September 30, 2013, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 562 million square feet (52.2 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
SOURCE Prologis, Inc.