This manufacturer was enjoying booming business growth and piecing together small local warehouses to serve its operations, but rapid expansion demanded a larger, more modern logistics real estate solution.
Prologis’ Customer-Led Development Team stepped up to help the customer with a streamlined build-tosuit (BTS) project that delivered a 556,686 square foot building in only 283 working days. A building this size is large for the local market, and other developers failed to convince the customer they had the construction management resources—or capital—to handle a project of this scale. Prologis was able to bring its proven industrial development expertise and resources to the project.
Prologis has a long track record of working successfully with local authorities to build logistics parks and individual distribution buildings quickly. But Prologis’ financial resources are perhaps the most important contribution to a project’s success, especially when there’s a demanding schedule for completion. In such cases, Prologis is able to make quick and helpful decisions because of its financial strength.
On this project, the customer ultimately chose to own the building and asked Prologis to do the work as a fee developer. Prologis had the flexibility to accommodate the request for a fee-development deal structure.
The Prologis team mitigated the effects of 80 lost working days, including two significant tropical storms and 78 inches of rain, and still turned the completed distribution center over to the customer on the agreed-upon date of substantial completion.