Prologis Signs Two Build-to-Suit Agreements with BMW of North America Totaling
609,000 Square Feet
SAN FRANCISCO, Feb. 13, 2013
SAN FRANCISCO, Feb. 13, 2013 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the
leading global owner, operator and developer of industrial real estate, today
announced it has signed two build-to-suit agreements with BMW of North
America, LLC totaling 609,000 square feet.
The first development -- totaling 326,500 square feet – will be located in
Redlands, Calif., in the state's Inland Empire submarket at Prologis Redlands
Distribution Center 11. The LEED Silver certified facility will provide an
expansion option for an additional 96,000 square feet, increasing the
prospective logistics space to 422,500 square feet.
The second facility will be located in the Dallas market at Prologis Park
20/35. The fully-secured, LEED Silver certified, state-of-the-art building
will total 282,000 square feet and have expansion capabilities to 370,000
square feet. At full build-out, the park will include more than 3.1 million
square feet of logistics space.
In addition to the two build-to-suit agreements, Prologis has agreed to
acquire a 204,000 square foot distribution facility from BMW of North America
in Ontario, Calif. The building is in a highly-desirable part of the Inland
Empire West submarket and Prologis expects strong customer interest in the
"These new agreements demonstrate the power of our strong global customer
relationships and increase BMW's portfolio with Prologis to more than 2.2
million square feet in five markets, all of which have been build-to-suits,"
said Richard Strader, senior vice president, Global Customer Solutions,
Prologis. "We are pleased to support the continued success of BMW and look
forward to adding these new buildings to our global platform."
Prologis, Inc. is the leading global provider and operator of logistics
infrastructure, focused on global and regional markets across the Americas,
Europe and Asia. As of Dec. 31, 2012, Prologis owned or had investments in, on
a consolidated basis or through unconsolidated joint ventures, properties and
development projects expected to total approximately 554 million square feet
(51.5 million square meters) in 21 countries. The company leases modern
distribution facilities to more than 4,500 customers, including manufacturers,
retailers, transportation companies, third-party logistics providers and other
SOURCE Prologis, Inc.
Contact: Atle Erlingsson, +1-415-733-9495, email@example.com, or Tracy
Ward, +1-415-733-9565, firstname.lastname@example.org
Press spacebar to pause and continue. Press esc to stop.