ProLogis Announces Leases in Japan, Nevada
- Dec 17, 2008
ProLogis has pre-leased approximately 190,000 square feet near Tokyo to Arata Co., a wholesale distributor and third-party logistics provider.Construction on ProLogis Parc Zama I, a five-story distribution facility totaling more than 1.2 million square feet and located in the city of Zama, commenced in April 2008. Arata is expected to occupy the space upon completion in June of 2009.This is ProLogis’ second lease with the company. Arata currently occupies approximately 129,000 square feet at ProLogis Parc Funabashi in the city of Funabashi, near Tokyo.The city of Zama is a central logistics hub in Japan’s Kanagawa Prefecture, providing convenient access to the greater Tokyo and greater Nagoya areas. ProLogis Parc Zama I is located 25 miles from Downtown Tokyo along Route 246. The park also is near a commuter train station.ProLogis’ Japan portfolio totals 38.2 million square feet of industrial space owned, managed or under development. Major customers in the country include DHL, Nippon Express, Panasonic Logistics, Askul, Hitachi Transport System, Seiyu/Wal-Mart, Yamato Logistics, FedEx and Nikon.Additionally, ProLogis announced today that it has signed lease agreements for distribution space totaling 272,000 square feet in shell-development facilities in Reno, Nev.Husqvarna Professional Products Inc. has leased 90,000 square feet of previously un-leased space from ProLogis at Silver Lake Business Park. The company will use the facility to distribute its products to customers throughout the West Coast. This is ProLogis’ first lease agreement with Husqvarna. Moreover, Jacobson Cos., an Iowa-based third-party logistics provider, is relocating and expanding with ProLogis into 182,000 square feet of shell-development space at Tahoe-Reno Industrial Center.