Prologis Leases 239,000 Square Feet in Brazil Development Project Two Million Square Foot Prologis CCP Cajamar I Industrial Park Now 100 Percent Pre-Leased
SAN FRANCISCO, March 18, 2013 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced a new lease agreement totaling 239,000 square feet (22,200 square meters) in Sao Paulo, Brazil. The lease was signed with Saraiva – Brazil's largest bookstore chain and leading online retailer.
Saraiva will occupy the final building at Prologis CCP Cajamar I Industrial Park, a two million square foot (185,000 square meter) development which is now 100 percent pre-leased. The park is located in the Cajamar submarket of Sao Paulo in proximity to Rodoanel Ring Road and central Sao Paulo. The master-planned distribution park provides a complete solution to end users, consistent with Prologis Class-A building specifications around the world. Other Prologis customers at the park include Schneider Electric, Penske Logistics, SC Johnson, SKF, Nova Pontocom, and Zara Brasil.
"The growth of e-commerce is driving strong demand for Class-A facilities in Brazil," said Luis Gutierrez, president, Prologis Latin America. "Customers are looking to consolidate their distribution networks and position themselves closer to population centers in order to enhance customer service and offer faster delivery times. Prologis is well positioned to meet these needs by providing modern distribution facilities in strategic infill locations."
Prologis CCP Cajamar I Industrial Park was developed and is operated by Prologis CCP, a joint venture between Prologis and Cyrela Commercial Properties (CCP). Prologis CCP is one of the leading providers of industrial real estate in Brazil with more than 8.7 million square feet (812,300 square meters) developed or to be developed in the country as of Dec. 31, 2012.
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.