ProLogis Expands with Office in China

SHANGHAI, CHINA-Denver-based ProLogis, the world’s largest industrial REIT, has furthered its foreign expansion by opening an office in Shanghai, China.

The office will evaluate opportunities to serve customers initially in three targeted areas of China: Guangdong Province and the Shanghai and Beijing regions.

The Shanghai team is led by Patrick Boot, senior vice president and Ming Mei, first vice president. Boot was formerly executive vice president for Property Investment Advisors in Jakarta, Indonesia. His background also includes management and development of logistics facilities in Southeast Asia and Canada. Mei was previously Director of Finance and Business Development for Owens Corning in Asia Pacific.

“Building a team of ProLogis associates in the market is of critical importance,” says Jeffrey H. Schwartz, president of international operations and president and chief operating officer for Asia. “It will allow us to better understand the market based on firsthand experience, while developing key relationships with local officials and businesses.”

In addition, ProLogis formed an Asian Advisory Committee to provide insight and bring direct market experience to its efforts throughout the region.

The committee is made up of six members with diverse backgrounds and experience including senior roles with the China Logistics and Procurement Association, the China Retail Fund and the Industrial Bank of Japan.

“In response to customer demand, ProLogis has been researching opportunities throughout Asia for several years,” says K. Dane Brooksher, chairman and chief executive officer of ProLogis. “In 2001, ProLogis entered the region with the development of a facility in Tokyo for DHL. Since that time, interest in China from our customers has been strong, due to the expansion of multinational corporations to China, the need for modern distribution facilities and the increasing number of third-party logistics providers locating in the region.”