MEXICO CITY—Prologis, Inc. has signed a new development lease agreement totaling 387,400 square feet (35,991 square meters) with APL Logistics in Mexico City. APL Logistics, a Prologis repeat customer, provides international integrated supply chain services in more than 60 countries.
The lease is for space at Prologis Park Izcalli Building 3. The facility is located in a 1 million square foot master-planned industrial park along the NAFTA Highway. With this agreement, the park is 100-percent leased.
"We're pleased to expand our relationship with industry leader APL Logistics," said Luis Gutierrez, president, Prologis Latin America. "Our modern class-A facilities allow us to serve companies that export goods to the US and distribute products in Mexico."
"Mexico is a key market for APL Logistics and we have made significant investments here," said David Frentzel, senior vice president, consumer vertical, APL Logistics. "With additional well-equipped warehouse facilities offered by Prologis, we have further strengthened our capabilities as we continue to provide complete logistics solutions to our customers with operations in the area."
Prologis owns and manages approximately 31.9 million square feet (3 million square meters) of logistics and distribution space in Mexico as of June 30, 2014.