ProLogis to Develop Distribution Center in US

Logistics Insight Asia - Industry News, 7/12/2009

ProLogis has announced that it will develop a, 667,000 sq foot distribution facility in Southern California, US for a home improvement specialty retailer.

"This transaction reinforces our ability to utilize our attractive land bank and development expertise to meet our customers' needs," said Larry Harmsen, ProLogis president in the US and Canada.

ProLogis will build the facility on a 55-acre parcel of land it currently owns at Crossroads Business Park in the city of Ontario, monetizing an additional US$16.2 million of its land bank.

Richard Strader, ProLogis Global Corporate Services' senior VP said, "Upon the completion of this facility, the company will occupy approximately seven million sq feet of distribution space in 13 markets across the country."

Construction on the facility will commence in December 2009, and is expected to be completed in the fall of 2010.

ProLogis, www.prologis.com