SAO PAULO—Prologis, Inc. has reached terms on a new lease agreement totaling 197,000 square feet at its Prologis CCP Cajamar II, Building 300 in Sao Paulo, Brazil. The repeat customer is a leading logistics and supply chain solutions company.
"There is significant demand for class-A logistics facilities in the Sao Paulo metro area, as a wide range of manufacturing and retail customers need space to service a rapidly growing consumer market," said Hardy Milsch, Prologis' vice president, country manager, Brazil. "The park is ideally located for regional distribution facilities and we are pleased to expand this important relationship and accommodate their growing business in Brazil."
Prologis CCP Cajamar II is expected to total nearly 2.9 million square feet (267,000 square meters) at full build out. The project, a joint venture with Cyrela Commercial Properties, is located in the Cajamar submarket of Sao Paulo and adjacent to the Anhanguera Highway.
Prologis CCP is one of the leading providers of industrial real estate in Brazil with approximately 11.7 million square feet (1.1 million square meters) developed or to be developed in the country as of June 30.