Industry News
Oct 13, 2008
By: Tom Dworetzky, News Editor
ProLogis Japan Properties Fund II has acquired a $65 million portfolio near Tokyo, it has reported. The deal includes three buildings totaling 300,000 square feet, all fully leased to three separate Japanese companies, located in Akishima City, a logistics hub approximately 50 kilometers from Tokyo's central business district.
Akishima City provides a base to support a vast distribution area encompassing Tokyo's city center, northern Kanagawa and southern Saitama, according to Masato Miki, co-president of Japan for ProLogis.
The property, to be called ProLogis Park Akishima, offers exceptional access to Route 16, Chuo Expressway and Ken-Oh Expressway, as well as the Akishima commuter station. ProLogis will maintain current lease agreements with existing customers in the park -- 3A Logistics, a subsidiary of K.R.S. Co. and one of the largest food distributers in Japan; Kokubu Co. Ltd., the largest food wholesaler in Japan; and FamilyMart Co., Ltd., one of the major convenience store chains in Japan.
The portfolio was purchased from a major real estate company in Japan that invests in residential, commercial and office markets. ProLogis' Japan portfolio totals 37.1 million square feet of industrial space owned, managed or under development.
By: Tom Dworetzky, News Editor
ProLogis Japan Properties Fund II has acquired a $65 million portfolio near Tokyo, it has reported. The deal includes three buildings totaling 300,000 square feet, all fully leased to three separate Japanese companies, located in Akishima City, a logistics hub approximately 50 kilometers from Tokyo's central business district.
Akishima City provides a base to support a vast distribution area encompassing Tokyo's city center, northern Kanagawa and southern Saitama, according to Masato Miki, co-president of Japan for ProLogis.
The property, to be called ProLogis Park Akishima, offers exceptional access to Route 16, Chuo Expressway and Ken-Oh Expressway, as well as the Akishima commuter station. ProLogis will maintain current lease agreements with existing customers in the park -- 3A Logistics, a subsidiary of K.R.S. Co. and one of the largest food distributers in Japan; Kokubu Co. Ltd., the largest food wholesaler in Japan; and FamilyMart Co., Ltd., one of the major convenience store chains in Japan.
The portfolio was purchased from a major real estate company in Japan that invests in residential, commercial and office markets. ProLogis' Japan portfolio totals 37.1 million square feet of industrial space owned, managed or under development.
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