ProLogis (PLD), a leading global provider of distribution facilities, recently leased about 188,000 square feet of its development portfolio in Japan to global customers, thereby strengthening its position in the market.   About 95,000 square feet were leased to Caterpillar Logistics Services Inc., the logistics division of Caterpillar Inc. (CAT), the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The lessee will occupy space at ProLogis Parc Narita III near Tokyo, Japan.   The company has also leased 93,000 square feet at ProLogis Parc Ichikawa I, a distribution facility near Tokyo, to an unnamed global supplier of office products. This is the sixth such leasing agreement with the lessee, who now occupies approximately 1.2 million square feet across the U.S., Mexico and Japan.   ProLogis owns and manages interests in over 2,500 distribution facilities, service offices and properties ...

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DrStockPick.com Watch List!

My Picks for Wednesday October 14, 2009, are:

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PLD, ProLogis

PLD is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia.

PLD leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs.

PLD has closed on $123 million of secured financings for two of its property funds.

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IARO, International Aerospace Enterprises, Inc., IARO.OB

IARO is an innovative and aggressive provider of discounted military aircraft spare parts for U.S.

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In a marked development signifying the probable redemption of investor confidence, ProLogis (PLD), one of the leading global providers of distribution facilities, has recently signed three leasing agreements in France, totaling 341,000 square feet.   ProLogis leased 139,000 square feet at ‘ProLogis Park Clesud’ in Southern France to a leading manufacturer and retailer of the country. The leased facility provides immediate access to multiple freeways and easy railway connectivity. The undisclosed company is one of the existing clients of ProLogis, currently occupying 77,000 square feet of space in France and the U.S.   Approximately 136,000 square feet of newly developed distribution space was leased at ‘ProLogis Park les Portes de Vemars’, which is located about 18 miles north of Paris. The lessee is Geodis, a third-party logistics and international transport provider and subsidiary of the SNCF (Société Nationale des Chemins de fer français or the French National Railways). ...

ProLogis (PLD), a leading global provider of distribution facilities, has recently released its new report on South Korea’s industrial property markets, collating data from varied sources including primary research conducted by its analysts and academicians, and industry data from secondary sources. The report divulges how the industrial property markets have been affected by the historical, political, and geographical landscape of the country, with approximately 95% of the existing inventory of warehouse and distribution space being obsolete. Despite the rapid economic strides made by South Korea, it has perennially neglected the logistics and supply-chain networks until recently. With an intensified global pressure to remain competitive in the market, South Korea is now focusing on building state-of-the-art distribution facilities and supply-chain networks. Furthermore, the economy has remained stable during the recession and the real GDP of the country is expected to gain momentum once the recession ends. This ...

ProLogis (PLD), one of the leading global providers of distribution facilities, has recently announced its third new 4.8 megawatt solar project in Spain as part of its renewable energy program. The solar project would be installed on eight rooftops at ProLogis Park Sant Boi in Barcelona and ProLogis Park Alcala in Madrid. With these installations, ProLogis currently has solar projects on 20 buildings spanning 7.2 million square feet of roof space in the U.S., Japan, France, Germany and Spain. On completion of the new project, ProLogis would generate more than 11 megawatt of energy, which is equivalent to the power consumption in over 1,100 households per year. For the current solar project in Spain, ProLogis has leased 2 million square feet of roof space to Recurrent Energy, a leading provider of solar energy and power distribution company. Recurrent Energy will own and operate the project, and ...

ProLogis (PLD), one of the leading global providers of distribution facilities, has reappointed Irving F. Lyons III on its Board to bring in experience that is invaluable to the company. Lyons had earlier served ProLogis as the Chief Investment Officer from 1997 to 2004. He was also a board member of the company from 1996 until his retirement in 2006. With his appointment, ProLogis has brought on board over 30 years of management experience in the industrial sector to instill a fresh perspective and dynamism to the company. In a separate development, ProLogis announced the lease of a 215,000 square feet distribution space in Southern California to Golden State Container – a leading international provider of packaging and storage solutions. The lessee will occupy the newly constructed space at ProLogis Park Ontario Airport. Spanning across 1.9 million square feet, the park includes state-of-the-art facilities. The ...

ProLogis (PLD), one of the leading global providers of distribution facilities, has recently released a report on the industrial property markets in the U.S. and Canada.  The research report is based on inputs from varied sources, including ProLogis’ in-depth market study, brokerage reports, and contributions from data providers. The report covers the top 31 distribution property markets in the U.S. and Canada and provides valuable insights of the industry during the first half of 2009.  The report divulges that the average vacancy rate for bulk distribution space across major markets increased to 10% in the second quarter of 2009, compared to 7.6% at mid-year 2008. Furthermore, net absorption decreased to negative 56 million square feet during the first half of 2009, compared to positive 34 million square feet in 2008. The report also revealed that new starts declined to 5 million square feet during the first ...

ProLogis (PLD), a leading global provider of distribution facilities, recently agreed to lease about 154,000 square feet of newly developed space in the Czech Republic to Geis Logistics.

The leased facility at ProLogis Park Ostrava is strategically located close to the Ostrava city center – a premier administrative and manufacturing hub in the country. The site provides immediate access to major centers of commerce in the region through a highway network and Ostrava International Airport.

Geis Logistics will utilize the facility as a central warehouse for its operations in the Czech Republic and Slovakia and as a gateway to other Eastern European markets. Besides its prime location, the facility would also provide access to a talented pool of workforce that in turn could increase the company’s efficiency.

ProLogis owns and manages interests in over 2,500 distribution facilities, service offices and properties spanning 475 million square feet of space

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ProLogis (PLD), one of the leading global providers of distribution facilities, has recently signed an agreement with Marks & Spencer, a premier retailer in the U.K., to lease about 382,000 square feet of space in the country. The leased facility is located at ProLogis Park Store in Stoke-on-Trent city, which is approximately an hour from the Birmingham city center. The site has easy access to the highways, and offers better flexibility and efficiency for the supply chain operations of Marks & Spencer. ProLogis owns and manages interests in over 2,500 distribution facilities, service offices, and properties spanning 475 million square feet (including properties under development) of space. As of Jun 30, 2009, the company had 200.5 million square feet of direct-owned industrial properties -- 81.5% of which was located in North America, 14.2% in Europe, and 4.3% in Asia. With approximately 18.5 million square feet ...

ProLogis (PLD), a leading global provider of distribution facilities, recently agreed to jointly manage, own and develop its distribution properties in Japan with a local company. The move is chiefly aimed at reducing its operating risk in the country, given continued weakening of the global economy.

ProLogis has signed the deal with Japan Logistics Fund Inc. – the only real estate investment trust (REIT) in the country that primarily focuses on logistics companies. Japan Logistics Fund is managed by the asset management firm Mitsui & Co. Logistics Partners Ltd.

With this deal, ProLogis will jointly own part of the development portfolio with Japan Logistics Fund and continue to exclusively own others. However, ProLogis will continue to manage and lease the joint venture properties and earn management fees related to these services. On the other hand, Japan Logistics Fund would gain external growth opportunities through long-term ownership of state-of-the-art

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