Prologis Leases More Than 400,000 Square Feet in Brazil Development Project Development 100 Percent Pre-Leased During Construction
SAN FRANCISCO, Sept. 13, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced a new lease agreement in Sao Paulo, Brazil totaling 401,523 square feet (37,303 square meters) with a leading global logistics provider. The company will occupy the entire facility.
Prologis is committed to environmentally-friendly developments and is seeking LEED certification for the property.
"Demand for new Class-A product in Brazil is at an all-time high, and we are developing modern logistics facilities to serve the needs of our customers," said Nick Kittredge, Prologis' senior vice president, general manager, Brazil.
Prologis CCP Jundiai Industrial Park is expected to total approximately 1,622,992 square feet (150,781 square meters) at full build-out. The project, a joint venture with Cyrela Commercial Properties (CCP), is located in the Jundiai submarket of Sao Paulo, with direct access to Avenida Hermengildo Tonolli and centrally located between the municipalities of Campinas and Sao Paulo.
Prologis CCP is one of the leading providers of industrial real estate in Brazil with approximately 11.7 million square feet (1,086,967 square meters) developed or to be developed in the country as of June 30, 2012.
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 June 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 569 million square feet (52.9 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.