From the Wires
Prologis Breaks Ground on a 795,000 Square Foot Development in Japan
By: PR Newswire
Jan. 16, 2013 04:00 PM
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.
SOURCE Prologis, Inc.
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