Finance Net Leasing
April 21, 2008
By: Dees Stribling, Contributing Correspondent
Anji-TNT Logistics, a provider of logistics services for auto part makers, has leased the entirety of a 234,000-square-foot distribution center at ProLogis Park Jiangning in Nanjing, the capital of China's Jiangsu Province. Anji-TNT will operate the space on behalf of Italian automaker Fiat.
ProLogis Park Jiangning is located in a government-sponsored economic development zone adjacent to the Nanjing Lukou International Airport. At full build-out, the park will comprise six facilitates totaling more than 1.5 million square feet.
Nanjing, the transportation hub of eastern China, has also seen rapid industrial growth in recent years, including the auto industry. Late this year, for example, Ford Motor Co. will begin producing Fiesta automobiles in Nanjing at a $510 million plant that will produce 160,000 cars annually.
The Nanjing park is one of five similar developments that ProLogis began last year in China. The other four are in the major cities of Changsha, Chengdu, Chongqing and Wuhan. Recently, the first phase of ProLogis Park Chongqing reached 100 percent leased, with the second phase to break ground this summer.
Denver-based ProLogis expects to develop 9.7 million square feet of distribution space on land it has secured in these five cities, with a total expected investment of more than $360 million. All together, the company currently operates more than 11.3 million square feet of
industrial distribution space in China.
By: Dees Stribling, Contributing Correspondent
Anji-TNT Logistics, a provider of logistics services for auto part makers, has leased the entirety of a 234,000-square-foot distribution center at ProLogis Park Jiangning in Nanjing, the capital of China's Jiangsu Province. Anji-TNT will operate the space on behalf of Italian automaker Fiat.
ProLogis Park Jiangning is located in a government-sponsored economic development zone adjacent to the Nanjing Lukou International Airport. At full build-out, the park will comprise six facilitates totaling more than 1.5 million square feet.
Nanjing, the transportation hub of eastern China, has also seen rapid industrial growth in recent years, including the auto industry. Late this year, for example, Ford Motor Co. will begin producing Fiesta automobiles in Nanjing at a $510 million plant that will produce 160,000 cars annually.
The Nanjing park is one of five similar developments that ProLogis began last year in China. The other four are in the major cities of Changsha, Chengdu, Chongqing and Wuhan. Recently, the first phase of ProLogis Park Chongqing reached 100 percent leased, with the second phase to break ground this summer.
Denver-based ProLogis expects to develop 9.7 million square feet of distribution space on land it has secured in these five cities, with a total expected investment of more than $360 million. All together, the company currently operates more than 11.3 million square feet of
industrial distribution space in China.
Recent Net Leasing Headlines
July 22, 2008
July 22, 2008
July 21, 2008
July 17, 2008
July 17, 2008
Subscribe to this blog's feed
