SAO PAULO, BRAZIL—Prologis, Inc. has four development lease agreements in the first quarter totaling 582,000 square feet (54,000 square meters) in Brazil and Mexico.
The agreements include:
– 290,000 square feet (26,900 square meters) at Prologis CCP Dutra in Sao
Paulo, pre-leased to a leading wholesale warehouse club and repeat
Brazil customer. The property is proximate to the airport; and
– 113,000 square feet (10,500 square meters) at Prologis CCP Queimados
with a major pharmaceutical distributor near Rio de Janeiro; and
– 179,000 square feet (16,600 square meters) at Prologis Park Toluca in
Mexico to two separate customers: a regional packaging producer and a
leading automotive company. The park totals 628,000 square feet (58,300
square meters) with expansion capabilities to more than 1 million square
feet (92,900 square meters).
“The continued growth of domestic consumption remains a key driver for high-quality logistics facilities in Brazil and Mexico,” said Luis Gutierrez, president, Prologis Latin America. “Our well-located land bank and development expertise enable us to fulfill our customers’ requirements in supply-constrained markets.”
Prologis is a leading provider of industrial real estate in Latin America, with approximately 35 million square feet (32.5 million square meters) of logistics and distribution space as of December 31.