Release Date:
Release ID: 4238

ProLogis Leases 156,000 Square Feet to Third-Party Logistics Provider in Japan

New Customer Will Occupy Development Portfolio Space at ProLogis Parc Osaka II and ProLogis Parc Iwanuma I

TOKYO, Sept. 16 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has leased 156,000 square feet (14,500 square meters) of distribution space in its development portfolio in Japan to Ajinomoto Logistics Corporation, a third-party logistics provider and subsidiary of Ajinomoto Co., Inc., a global leader in the development and distribution of food and beverage products.

Ajinomoto has signed two new lease agreements with ProLogis. The first, totaling 67,000 square feet (6,200 square meters), is for distribution space at ProLogis Parc Osaka II. The second, totaling 89,000 square feet (8,300 square meters), is for distribution space at ProLogis Parc Iwanuma I.

"We are very pleased to sign these third-quarter lease agreements with Ajinomoto, a new ProLogis customer," said Mike Yamada, ProLogis president of Japan. "As a company, we are committed to unparalleled customer service while providing a modern and geographically diverse portfolio of distribution space. We have continued to demonstrate that commitment by delivering high-quality distribution space to Ajinomoto in two key Japanese distribution markets."

ProLogis Parc Osaka II is an eight-story, 1.4-million-square-foot (132,000-square-meter) distribution facility. The building incorporates a number of sustainable features including two, four-kilowatt wind turbines, wall-surface greenery and a state-of-the-art, pre-cast concrete seismic isolation system.

Completed in October 2008, ProLogis Parc Iwanuma I is a 436,000-square-foot (40,500-square-meter) distribution facility strategically located in the Sendai market of Japan. The facility is a little over one mile (two kilometers) from Sendai Airport, 11 miles (18 kilometers) from the Sendai Port and nine miles (14 kilometers) from Sendai's central business district.

ProLogis is one of the largest providers of distribution space in Japan with approximately 8.5 million square feet (794,000 square meters) completed and under development, as well as 98 acres (39.7 hectares) of land available for future development. Major ProLogis customers in Japan include Yamato Logistics, Konoike Transport, Costco, Daikin Industries, Sanyo Electric Logistics and Kintetsu World Express.
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