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ZAMA, JAPAN-ProLogis has started construction on the first phase of its Parc Zama distribution park, which is expected to have 2.2 million sf of industrial when completed. The company has begun on the first of two buildings, Parc Zama One, a five-story facility that will be more than 1.2 million sf.

The new park is going up near Route 246, a major north-south highway, and the Tomei Expressway, which leads to Tokyo, Nagoya and Osaka. The park is a logistics hub in the country’s Kanagawa Prefecture, and is about 25 miles from Tokyo and Nagoya. A cost for the construction was not released.

The Denver-based firm believes that the new park in Zama, the home of a large number of multinational manufacturing companies and suppliers of third-party logistics services, will attract major-name tenants. “Due to the scarce supply of modern facilities for lease and land parcels available within Tokyo proper, (this) submarket has emerged as a major logistics hub serving consumers throughout the metropolitan area as well as central Japan,” said Mike Yamada, co-president of the company’s Japan office, in a statement. Officials with ProLogis could not comment in time for this story.

ProLogis has seven offices in Japan, and many others in the Asia market, with customers such as DHL, Nippon Express, Hitachi Transport System, Sanyo Electric Logistics and Nikon. Company officials said in a statement that the firm has established a $5.2 billion platform of industrial facilities in Japan since launching operations there in 2002. The company’s portfolio of properties comprises 26.5 million sf of industrial space, with another 12.9 million sf under development. The company claims to serve 29 markets in Asia, with 64 million sf, or $6.7 billion worth of property, under management there.

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