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OSAKA, JAPAN-ProLogis Japan Properties Fund II has signed anagreement to acquire 888,000 sf in three distribution buildings inthe region from electronics manufacturer Sanyo Electric Co. Ltd.and distribution subsidiary Sanyo Electric Logistics Co. Thepurchase price is $118 million.

The properties include a two-building complex in Osaka thatserves as Sanyo Electric Logistics' headquarters and primarydistribution center, and an industrial facility in the city ofKobe, northwest of Osaka. Sanyo Electric Logistics will continue tooccupy the facilities in Osaka under a new, long-term leasebackagreement with the fund. The Kobe facility is fully leased toShinkai Transportation Systems, a Japanese logistics servicesprovider that has a "multi-year lease," according to ProLogisTrust, which operates the fund and manages its assets.