Finance Net Leasing
ProLogis Begins New Tokyo-Area Development
April 28, 2008
By: Tom Dworetzky, News Editor

ProLogis has started the first phase of construction on a major new distribution park near Tokyo, Japan, it has announced. The park will be Japan's largest Prologis facility.

ProLogis Parc Zama I, a five-story facility totaling more than 1.2 million square feet is being developed in the city of Zama, a logistics hub in Japan's Kanagawa Prefecture. At full build-out, ProLogis Parc Zama will contain two facilities totaling 2.2 million square feet.The site is 25 miles from downtown Tokyo--and provides access to greater Tokyo and greater Nagoya.

ProLogis Parc Zama is near Route 246, a major north-south highway, and the Tomei Expressway, a high-speed motorway that connects to Tokyo, Nagoya and Osaka. The park is also near a commuter train station.

Prologis has been active in Asia of late. As reported recently by CPN, ProLogis signed two new build-to-suit agreements in South Korea with Logen Express, a national parcel delivery provider, and Wonjin Logistics, a third-party logistics provider. In addition, Anji-TNT Logistics, a provider of logistics services for auto part makers, 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.

Current ProLogis customers in Japan include DHL, Nippon Express, Matsushita Logistics, Askul, Hitachi Transport System Ltd., Sanyo Electric Logistics, Seiyu/Wal-Mart, Yamato Logistics, FedEx and Nikon.

 
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