Prologis Breaks Ground on a 795,000 Square Foot Development in Japan
SAN FRANCISCO, Jan. 16, 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 795,000 square feet (73,857 square meters) in Japan.
Prologis Park Kitamoto is strategically located in Saitama Ken-O Expressway, a submarket of Tokyo. The facility, located within 29 miles (47 kilometers) of Tokyo's central business district, will also give customers access to the Sendai and Nagoya markets via the Ken-O Expressway. The four-story facility is expected to be completed in early 2014.
"The Saitama Ken-O submarket has evolved into a prime distribution hub, in part, due to Prologis' successful market entry at Prologis Park Kawajima," said Mike Yamada, president, Prologis Japan. "Demand for our industry-leading facilities has been strong and we look forward to adding this state-of-the art property to our portfolio."
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 Express Group, Nippon Express, Kirin Logistics, Tomy Company, Yamato Logistics, Costco, Daikin Industries, and Caterpillar Logistics Services, Inc.
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 Sept. 30, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 565 million square feet (52.5 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.