Finance Net Leasing
ProLogis Leases 205,000 SF in China
July 15, 2008
By: Elena Gontar, Staff Writer

ProLogis has leased approximately 205,000 square feet in Dalian, China to Nittsu Sinotrans Logistics Dalian Ltd., a joint venture between Sinotrans Liaoning Co. and Nippon Express.

ProLogis Park Dalian Free Port is a 1.4 million-square-foot master-planned distribution park located in Dalian Free Port area, adjacent to the Dalian container yard and to land that will be used to accommodate a planned, two-phase expansion of the port taking place through 2010.

Nittsu Sinotrans will occupy distribution space at the park, providing third-party logistics and transportation services to Canon Inc.

"We are pleased Nittsu Sinotrans has selected ProLogis Park Dalian Free Port as its new distribution hub in the region," Ming Mei, president for ProLogis in China said in a release. "This is a premier distribution site in northeastern China, especially with its close access to Dalian Free Port and proximity to markets in Korea and Japan."

ProLogis provides industrial distribution space in China with more than 24.8 million square feet in operation and under development. The company manages and develops distribution facilities, with operations in 121 markets across North America, Europe and Asia. It has $38.8 billion of assets owned, managed and under development, comprising 526.3 million square feet in 2,817 properties.

And the firm has been quite active on the international leasing scene as of late. Last month CPN reported that ProLogis leased 211,000 square feet of warehouse space in Slovakia to NAY Elektrodom, an electronics distributors and wholesaler. And as reported by CPN on June 2, the firm signed new lease agreements totaling 910,000 square feet at two major distribution parks in Europe with Kuehne + Nagel, a global logistics provider. The first lease, totaling 540,000 square feet, is for space at ProLogis Park Wellingborough, a 1.15 million-square-foot distribution park located in England's East Midlands area. The second lease, totaling 370,000 square feet is at ProLogis Park Isle d' Abeau, a 4.5 million-square-foot distribution park located in the city of Lyon, France.

 
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