Prologis Leases 582,000 Square Feet in Latin America Developments

SAN FRANCISCO, April 14, 2014–Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced it signed four development lease agreements in the first quarter totaling 582,000 square feet (54,000 square meters) in Brazil and Mexico.

The agreements include:

  • 290,000 square feet (26,900 square meters) at Prologis CCP Dutra in Sao Paulo, pre-leased to a leading wholesale warehouse club and repeat Brazil customer. The property is proximate to the airport; and
  • 113,000 square feet (10,500 square meters) at Prologis CCP Queimados with a major pharmaceutical distributor near Rio de Janeiro; and
  • 179,000 square feet (16,600 square meters) at Prologis Park Toluca in Mexico to two separate customers: a regional packaging producer and a leading automotive company. The park totals 628,000 square feet (58,300 square meters) with expansion capabilities to more than 1 million square feet (92,900 square meters).

“The continued growth of domestic consumption remains a key driver for high-quality logistics facilities in Brazil and Mexico,” said Luis Gutierrez, president, Prologis Latin America. “Our well-located land bank and development expertise enable us to fulfill our customers’ requirements in supply-constrained markets.”

Prologis is a leading provider of industrial real estate in Latin America, with approximately 35 million square feet (3.25 million square meters) of logistics and distribution space as of December 31, 2013.

ABOUT PROLOGIS
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of December 31, 2013, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 569 million square feet (52.9 million square meters) in 21 countries. These properties are leased to more than 4,500 customers, including third-party logistics providers, transportation companies, retailers, manufacturers, and other enterprises.

West Coast Commercial Real Estate News