ProLogis begins development near Tokyo
ProLogis, the world's largest owner, manager and developer of distribution facilities, announced today that it has started the first phase of construction on a major new distribution park near Tokyo, Japan.
ProLogis Parc Zama I, a five-story facility totaling more than 1.2 million square feet (113,000 square meters), is being developed in the city of Zama, a prospering logistics hub in Japan's Kanagawa Prefecture. The strategically located site is 25 miles from downtown Tokyo and provides convenient access to the greater Tokyo and greater Nagoya areas. At full build-out, ProLogis Parc Zama will contain two facilities totaling 2.2 million square feet (207,000 square meters), making it ProLogis' largest industrial development in the country.
"Due to the scarce supply of modern facilities for lease and land parcels available within Tokyo proper, the Zama submarket has emerged as a major logistics hub serving consumers throughout the metropolitan area as well as central Japan," said Mike Yamada, co-president of ProLogis in Japan. "Zama is home to a large number of leading multinational manufacturing companies and suppliers of third-party logistics services -- a clear reflection of its prime location. We are confident that our new park will attract top-tier customers throughout the country, and will become a flagship development for ProLogis in Japan."
ProLogis Parc Zama is being constructed near Route 246, a major north-south highway, and the Tomei Expressway, a high-speed motorway that connects to Tokyo, Nagoya and Osaka. The park is also near a commuter train station, which provides access to the area's well-qualified workforce. "ProLogis Parc Zama will further strengthen our relationship with the region's leading manufacturers and service providers and enable us to expand our distribution network for future business development activities," added Yamada.
Current ProLogis customers in Japan include DHL, Nippon Express, Matsushita Logistics, Askul, Hitachi Transport System Ltd., Sanyo Electric Logistics, Seiyu/Wal-Mart, Yamato Logistics, FedEx and Nikon.