Prologis Signs Two Lease Agreements in Japan Development Totaling 228,000 Square Feet
SAN FRANCISCO, Oct. 2, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced two new lease agreements totaling 227,979 square feet (21,180 square meters) in Osaka, Japan. The leases were signed with two repeat customers: ASKUL, a leading online retailer of office supplies; and a major third-party logistics provider.
Both leases are within Prologis Park Osaka 4, which was completed in May and covers more than 1.1 million square feet (106,135 square meters). The five-story, state-of-the-art facility has two spiral ramps making each floor easily accessible to vehicles.
"We are very pleased to strengthen our relationships with these two long-term customers in Japan, and to accommodate their expansion needs with our industry-leading distribution facilities," said Mike Yamada, president, Prologis Japan. "With our unsurpassed portfolio, Prologis is well positioned to meet these continuing needs."
Prologis is the leading provider of industrial real estate in Asia, with approximately 22 million square feet (two million square meters) of logistics and distribution space in Japan as of June 30, 2012. Major Prologis customers in Japan 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 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.