SAN FRANCISCO, March 29, 2012 /PRNewswire/ -- Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced that in March 2012 it signed two new lease agreements totaling 303,080 square feet (28,200 square meters) in Japan:
- 203,449 square feet (18,900 square meters) to a major Japanese third-party logistics firm at Prologis Park Osaka 1 in Osaka City. With this agreement, the 405,000 square foot (37,630 square meters) facility is now fully leased; and
- 99,631 square feet (9,300 square meters) to a major Japanese third-party logistics firm at Prologis Park Kitanagoya in the Nagoya market. With this agreement, the 460,000 square foot (42,800 square meters) facility is now fully leased.
"Both of these leases are significant in terms of size and the fact that they each bring the respective facilities to 100 percent occupancy," said Mike Yamada, president of Prologis Japan. "We are pleased to be able to accommodate both companies' requirements with available space in our portfolio. We continue to see strong interest in our modern, high-quality buildings in Japan."
Prologis is one of the leading providers of industrial real estate in Asia, with approximately 21 million square feet (2 million square meters) of logistics and distribution space in Japan as of December 31, 2011. The company's development portfolio accounts for approximately 2.9 million square feet (270,000 square meters).
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 December 31, 2011, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 55.7 million square metres (600 million square feet) in 22 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.