Prologis Signs 447,000 Square Foot Build-To-Suit Agreement in China [Real Estate]
Prologis, Inc. announced it has signed a 447,000 square foot (41,500 square meter) build-to-suit agreement in China with Deppon Logistics Co., Ltd., a leading Chinese logistics provider and repeat customer.
The new facility will be located at Prologis Tianjin Ninghe Logistics Center and serve as the company's regional distribution center for the greater Beijing area. This property expands Deppon's platform with Prologis to more than 1.4 million square feet (130,000 square meters) across China.
"The location of Prologis' land was ideally suited to meet our distribution needs, which directly enhances the quality of service we can provide our customers," said Liu Dong, vice president of operations, Deppon. "The efficient layout of this build-to-suit facility fulfills all of our requirements."
"Prologis has a long-standing relationship with Deppon and is committed to developing Class-A distribution facilities to support their business," said Gary Anderson, CEO, Prologis Europe and Asia. "This project represents our fourth build-to-suit for Deppon and underscores Prologis' capability to improve logistics infrastructure in the country."
Prologis owns and manages approximately 7 million square feet (650,000 square meters) of logistics and distribution space in China as of March 31, 2014.
Posted at 23:29