Prologis Park Tsukuba 2, located in the greater Tokyo market, is a four-story, 110,800 square meter distribution facility that was completed in September 2020. The state-of-the-art warehouse is a build-to-suit (BTS) for a leading e-commerce company specializing in fashion.
This is our sixth deal and third BTS in Tsukuba City with the fashion retailer, a Prologis customer since 2012.
Tsukuba City was a new and untested market for us when we first looked into the area in 2016. However, it was ideal for the e-commerce company’s operations since the prospected development site was near residential areas and train stations, which would enable the company to source workers, and because the site was also close to major highways, which made it perfect for on-time delivery.
Once Prologis Park Tsukuba 1-A and 1-B were completed, the retailer expressed satisfaction with the Tsukuba market as well as the facilities and decided to expand with us in the area. Now that Prologis Park Tsukuba 2 is complete, the company intends to strategically leverage the three buildings to serve as its core fulfillment centers.
In summary, we strengthened our relationship with a key customer while at the same time testing a relatively new market. With the success of the e-commerce fashion retailer’s latest BTS, and now that Tsukuba is considered an established market, we have decided to take a step further. We are scheduled to break ground on our first multi-tenant facility in the area, Prologis Park Tsukuba 3, in 2021.
