ProLogis will develop a 616,000-square-foot distribution facility in Osaka, Japan on behalf of Senko, an integrated distribution services company with a large national network of office locations, vehicles and cargo ships. Construction of the facility, known as ProLogis Parc Maishima IV, will begin in September and is expected to be completed next summer.
Senko will operate the five-story distribution center as a hub in Osaka. The site is strategically situated, approximately four miles from the Port of Osaka, less than six miles from the Osaka central business district and approximately 17 miles from the Kansai International Airport, which serves the Osaka metropolitan area.
To manage the project, ProLogis and Shimizu, a leading architectural, engineering and general contracting firm, have formed a joint venture. ProLogis will contribute a five-acre parcel of land in Osaka, and will receive a construction management fee. ProLogis will continue to own and manage the property, receiving asset and property management fees and its portion of rental income.
Mike Yamada, president of ProLogis in Japan, said, "While the demand for logistics facilities near the Port of Osaka is relatively high, the supply of efficient distribution centers is still low, especially facilities with modern amenities and sustainable features located within the immediate port area. This is one of the reasons why Senko sought space in this location -- it is extremely well-located and enables the company to better serve its customers."
ProLogis is one of the largest providers of distribution space in Japan with approximately 8.5 million square feet either completed or under development, as well as 98 acres of land available for future development. ProLogis' major customers in Japan include Yamato Logistics, Konoike Transport, Costco, Daikin Industries, Sanyo Electric Logistics and Kintetsu World Express.
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