ProLogis, a leading global provider of distribution facilities, announced it has signed two build-to-suit agreements, totaling approximately 522,000 ft² (48,500 m²). These transactions will be second-quarter development starts and represent approximately $60 million (approx. 50.2 mln.) of total expected investment.
The build-to-suit projects include agreements in:
- Moissy-Cramayel, France, where the company will construct a 342,000 ft² (31,800 m²) distribution facility for a major third-party logistics company on ProLogis-owned land at ProLogis Park Chanteloup, located approximately 18 miles (30 kilometers) south of Paris near the A5, A4 and A6 motorways.
- Northern Japan, where ProLogis will construct a 180,000 ft² (16,700 m²) distribution facility for one of Japan's leading retailers on ProLogis-owned land. After completion, the development will be sold to the customer at a pre-committed value.