Prologis pre-leases 452,000 sq ft development in Tokyo
Prologis has agreed two leases totalling 452,000 square feet (42,000 square metres) at Prologis Park Kawajima 2, in a submarket of Tokyo.
The leases were signed with a Japanese third-party logistics provider and a major wholesaler of food and snack products.
With these transactions, the facility is 100 per cent pre-leased. Construction is expected to be complete in February. Prologis plans to obtain CASBEE Saitama "A" certification for the facility.
"Demand for modern, well-located logistics facilities remains strong as customers look to consolidate their distribution networks," says Mike Yamada, president, Prologis Japan. "The strategic location of our facilities enhances our customers' operations by positioning them closer to population centres to more efficiently meet consumer demand."
Prologis is one of the leading providers of industrial real estate in Asia, with approximately 21 million square feet (1.95 million square metres) of logistics and distribution space in Japan as of 30 June 2013.