ProLogis announces leasing activity in Japan

ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today it has signed new lease agreements for approximately 250,000 ft² (23,100 m²) of distribution space in Osaka, Japan to two leading third-party logistics providers.

Sankyu Inc. has leased approximately 184,600 ft² (17,150 m²) at ProLogis Parc Osaka II, a distribution facility located at the Port of Osaka, one of Japan's primary logistics hubs. Sankyu currently leases approximately 54,000 ft² (5,000 m²) from ProLogis at ProLogis Parc Amagasaki.

Also at ProLogis Parc Osaka II, Kintetsu World Express (KWE) has leased approximately 64,500 ft² (6,000 m²). KWE is one of ProLogis' multi-national customers, occupying approximately 209,000 ft² (19,500 m²) in locations across Japan, China and in the United States.

"Our portfolio of industrial properties around the Port of Osaka continues to attract leading Japanese companies looking to maximize the efficiency of their supply chain operations," said Mike Yamada, co-president of Japan for ProLogis. "We are pleased to increase our business with both Sankyu and Kintetsu at ProLogis Parc Osaka II."

ProLogis Parc Osaka II is an eight-story, 1.8-million-ft² (169,000-m²) distribution facility. The building incorporates a number of sustainable features including two, four-kilowatt wind turbines, wall-surface greenery and a state-of-the-art, pre-cast concrete seismic isolation system. Other customers at the park include Daikin Industries, Hamakyorex, Flobal Corporation and Vantec Corporation.

ProLogis is the largest provider of industrial real estate in Japan with a portfolio totaling 38.2 million ft² (3.5 million m²) of industrial space. Other major customers in the country include DHL, Nippon Express, Panasonic Logistics, Askul, Hitachi Transport System, Seiyu/Wal-Mart, FedEx and Nikon.

Source: PorterNovelli

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