Prologis leases more than 300,000 square feet in Japan portfolio

Prologis Inc, the leading global owner, operator and developer of industrial real estate, on Friday announced that in March it signed two new lease agreements totaling 303,080 square feet (28,200 square meters) in Japan.

The first is 203,449 square feet (18,900 square meters) to a major Japanese third-party logistics firm at Prologis Park Osaka 1 in Osaka City. With this agreement, the 405,000-square-foot (37,630 square meters) facility is now fully leased.

The second is 99,631 square feet (9,300 square meters) to a major Japanese third-party logistics firm at Prologis Park Kitanagoya in the Nagoya market. With this agreement, the 460,000-square-foot (42,800 square meters) facility is now fully leased.

"Both of these leases are significant in terms of size and the fact that they each bring the respective facilities to 100 percent occupancy," said Mike Yamada, president of Prologis Japan. "We are pleased to be able to accommodate both companies' requirements with available space in our portfolio. We continue to see strong interest in our modern, high-quality buildings in Japan."

Prologis is one of the leading providers of industrial real estate in Asia, with approximately 21 million square feet (2 million square meters) of logistics and distribution space in Japan as of December 31, 2011. The company's development portfolio accounts for approximately 2.9 million square feet (270,000 square meters).

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