The new facility will become Costco's main distribution hub for its locations throughout Japan.

"Costco is a growing retailer in Japan, with strong brand recognition and a track record of success in many locations worldwide," says Mike Yamada, president of Japan for ProLogis, in a statement. "We are pleased the company has selected ProLogis as its distribution space provider in Ichikawa City and we look forward to an ongoing relationship with Costco." This is the first lease between ProLogis and Costco.

The five-story, 1.3-million-square-foot ProLogis Parc Ichikawa I sits at the intersection of the Wangan expressway and Route 357. The property is no stranger to food-based retailers with leases underway from Food Service Network Co. Ltd., United Foods Co. Ltd.

At the beginning of the year, Trancom Co. Ltd., a third-party logistics provider, leased 93,000 square feet in the facility. Also, Yomiuri Information Service Inc. took 168,000 square feet in order to provide space for the company's light assembly and paper advertisement distribution.

At the time of these transactions, Yamada says, "We continue to experience strong interest for distribution space at ProLogis Parc Ichikawa I. The facility is strategically located and offers a host of sustainable features, which is becoming an important competitive advantage in today's market. We welcome our new customers to the park and expect that it will provide value to their distribution networks."