Prologis Breaks Ground on 451,000 Square Foot Development in Japan
SAN FRANCISCO, March 6, 2013 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced commencement of a new development project totaling 451,000 square feet (41,900 square meters) in Japan.
Prologis Park Kawajima 2 is strategically located in the Saitama Ken-O submarket of Tokyo, adjacent to the Ken-O Expressway. The facility, located within 28 miles (45 kilometers) of Tokyo's central business district, will also give customers access to markets in Japan's northern region.
The state-of-the-art building will include a one megawatt solar system, an emergency disaster alert mechanism, and a groundwater remediation system. Prologis also plans to obtain CASBEE Saitama Class A certification for the facility – the highest possible ranking under the CASBEE rating system.
"We expect strong growth in demand for high-quality Class A logistics facilities in the area due to the ongoing reconfiguration of the supply chain in Japan and the lack of supply," said Mike Yamada, president, Prologis Japan. "We look forward to building a development that can serve this demand effectively and help our customers build more efficient distribution systems in the region."
Prologis is one of the leading providers of industrial real estate in Asia, with approximately 21 million square feet (1.95 million square meters) of logistics and distribution space in Japan. Major Prologis customers, include: Hitachi Transport System, Panasonic Logistics, Sagawa Group, Nippon Express, Kirin Logistics, Tomy Company, Yamato Logistics, Costco, Daikin Industries, and Amazon Japan.
Prologis, Inc. is the leading global provider and operator of logistics infrastructure, focused on global and regional markets across the Americas, Europe and Asia. As of Dec. 31, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 554 million square feet (51.5 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.