Prologis Leases 1.1M Square Feet in Japan Development Portfolio

Prologis

today announced four new lease agreements totaling approximately 1.1 million square feet (104,269 square meters) in its Japan development portfolio. The transactions include: 349,300 square feet (32,450 square meters) with a Japanese third party logistics provider. This new, 100 percent-leased build-to-suit is located at Prologis Park Kobe within the Osaka market and includes a seismic isolation system. Construction is scheduled to begin in November 2012; and 230,000 square feet (21,400 square meters) with Hitachi Transport System, a leading third party logistics provider, at Prologis Park Osaka 4. The building was completed in May 2012 and totals more than 1.1 million square feet (106,135 square meters); and 543,000 square feet (50,450 square meters) in two transactions with a major third party logistics provider.  The first transaction, for 224,000 square feet (20,800 square meters), is located at Prologis Park Osaka 4.  The second transaction is located in the Tokyo market at Prologis Park Zama 2 and totals 319,000 square feet (29,600 square meters), bringing the total percentage leased to 90 percent, well ahead of the underwritten lease up.  Zama 2 was