This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Prologis Leases More Than 1.1 Million Square Feet In Three Japan Development Projects

TOKYO, Nov. 15, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced four new lease agreements totaling approximately 1.1 million square feet (104,269 square meters) in its Japan development portfolio. The transactions include:

  • 349,300 square feet (32,450 square meters) with a Japanese third party logistics provider. This new, 100 percent-leased build-to-suit is located at Prologis Park Kobe within the Osaka market and includes a seismic isolation system. Construction is scheduled to begin in November 2012; and
  • 230,000 square feet (21,400 square meters) with Hitachi Transport System, a leading third party logistics provider, at Prologis Park Osaka 4. The building was completed in May 2012 and totals more than 1.1 million square feet (106,135 square meters); and
  • 543,000 square feet (50,450 square meters) in two transactions with a major third party logistics provider.  The first transaction, for 224,000 square feet (20,800 square meters), is located at Prologis Park Osaka 4.  The second transaction is located in the Tokyo market at Prologis Park Zama 2 and totals 319,000 square feet (29,600 square meters), bringing the total percentage leased to 90 percent, well ahead of the underwritten lease up.  Zama 2 was completed in August 2012 and is a state-of-the-art facility with premium safety features, including Prologis' patented seismic isolation system, electric generators, and a groundwater remediation system.

"These four transactions, all with long-term customers, speak to the strength of our customer relationships and our ability to leverage our unmatched platform to meet their requirements," said Mike Yamada, president, Prologis Japan. "We continue to see very strong demand in the Japanese market and look forward to supporting the ongoing success of our customers."

Prologis is one of the leading providers of industrial real estate in Asia, with approximately 21 million square feet (1.95 million square meters) of logistics and distribution space in Japan as of September 30, 2012. Major Prologis customers in Japan include: Panasonic Logistics, Sagawa Express Group, Nippon Express, Kirin Logistics, Tomy Company, Yamato Logistics, Costco, Daikin Industries, and Caterpillar Logistics Services, Inc.

About Prologis 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 September 30, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 565 million square feet (52.5 million square meters) in 21 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.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,161.95 +29.98 0.18%
S&P 500 2,002.57 +3.59 0.18%
NASDAQ 4,559.3570 +6.5980 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs