Prologis Pre-Leases 452,000 SF in Tokyo

TOKYO and SAN FRANCISCO-Prologis, Inc. has inked two new lease agreements totaling 452,000 square feet (42,000 square meters) at Prologis Park Kawajima 2 in a submarket of Tokyo.

The leases were signed with a leading Japanese third-party logistics provider and a major wholesaler of food and snack products. With these transactions, the facility is 100% pre-leased. Construction is expected to be complete in February. Prologis plans to obtain CASBEE Saitama "A" certification for the facility.

"Demand for modern, well-located logistics facilities remains strong as customers look to consolidate their distribution networks," said Mike Yamada, president, Prologis Japan. "The strategic location of our facilities enhances our customers' operations by positioning them closer to population centers to more efficiently meet consumer demand."

Prologis is one of the leading providers of industrial real estate in Asia, with approximately 21 million square feet (1.95 million square meters) of logistics and distribution space in Japan as of June 30, 2013.

Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of June 30, Prologis, Inc. owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 563 million square feet (52.3 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.