ProLogis signs lease deal with Nittsu Sinotrans Logistics

Jul. 18, 2008 (China Knowledge) - ProLogis, the world's largest owner, manager and developer of distribution facilities, has leased about 205,000 square feet (19,000 square meters) to Nittsu Sinotrans Logistics Dalian Ltd, a joint venture of Sinotrans Liaoning and Nippon Express, sources said.

According to the lease contract, Nittsu Sinotrans will get distribution space at ProLogis Park Dalian Free Port, from where it can offer logistics and transportation services to Japan-based Canon Inc., one of the world's leading consumer imaging equipment provider. ProLogis Park Dalian Free Port is a distribution park covering a total space of about 1.4 million square feet (130,000 square meters).

The American distribution facilities developer is very pleased that Nittsu Sinotrans has selected ProLogis Park Dalian Free Port as its new distribution center in the area, said Ming Mei, president of ProLogis China, adding that this is a perfect site in northeastern China with its close and easy access to markets in Korea and Japan.

Denver-headquartered ProLogis has expanded its businesses to 121 markets across the world, including North America, Europe and Asia. The company has US$38.8 billion of assets, which are either owned, or managed or are under development. These assets comprise gross built-up area of 526.3 million square feet (48.9 million square meters) in 2,817 properties as of Mar. 31, 2008, said industry sources.