"Hitachi Transport System is one of our largest customers in both Japan and across the globe," said Mike Yamada, co-president for ProLogis in Japan, in a statement. He said the agreement is the 15th lease between the two companies.
Hitachi is operating the build-to-suit as a regional distribution center for the Aeon Group, a Japan-based provider of retail and financial services. The company operates 11,000 retail stores throughout Asia, including the Jusco, MaxValu and Ministop chains.
The new facility is part of the 18-acre ProLogis Parc Kiyama, in Kiyama City. ProLogis broke ground on it this week and expects to complete it by the end of this year or early next year.
Japan is not the only Asian country in which ProLogis is expanding. Last week it acquired facilities in three South Korean cities for $86.3 million, bringing its holdings in that country to four-million sf. The Denver-based company owns 526.3 million sf of industrial facilities around the globe.
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