Recent logistics property deals

ProLogis is to build its UK industrial space according to BREEAM environmental standards, and has pre-leased distribution space in China to Jinji Total Logistics; AMB Property Corp has leased space in a development at Narita International Airport in Tokyo to Nippon Express and Crocs Asia, and has acquired a development site at NY/NJ seaport.

ProLogis has announced that it will require all new industrial space in the UK to be built according to environmental standards developed by the Building Research Establishment (BRE) Group.

The BRE Environmental Assessment Method (BREEAM) rating scale includes Pass, Good, Very Good and Excellent. Effective immediately, all new ProLogis facilities currently in the design or planning stage, as well as projects going forward, must achieve a minimum rating of Very Good.

So far, ProLogis has developed eight BREEAM-rated distribution centres comprising more than 3.1 million sq.ft at locations throughout the UK. ProLogis has also started construction on a ninth facility, totalling 535,000 sq.ft, which will be located at ProLogis Park Sideway and is targeted for BREEAM Excellent.

As at end-December 2007, ProLogis had more than 18.6 million sq.ft of industrial space owned, managed and under development in the UK.

ProLogis has also announced that it has pre-leased 186,000 sq.ft of distribution space near Beijing to Jinji Total Logistics, who will operate the facility as a domestic distribution centre for Samsung.

Jinji's lease is for space in a new 437,000 sq.ft facility under construction at ProLogis Park Xiqing in Tianjin. Construction of the building is scheduled for completion in early 2009.

Already a ProLogis customer, Samsung leases more than 1.2 million sq.ft from ProLogis in China and the US.

ProLogis Park Xiqing is ProLogis' third distribution park in Tianjin. The site is located less than 15 km from five major expressways, near the Tianjin International Airport, and is 30 km from the Tianjin Container Port (throughput 5.95 million TEU in 2006).

As at end-December 2007, ProLogis had more than 11.3 million sq.ft in operation and another 11 million sq.ft under development in China.

AMB Property Corp has leased approximately 318,000 sq.ft in a development at Tokyo's Narita International Airport to Nippon Express and Crocs Asia.

AMB Narita Air Cargo Centre - Building C totals 349,000 sq.ft, and is part of AMB's master-planned logistics park capable of supporting approximately 2.1 million sq.ft at full build-out. It is projected to be Japan's largest dedicated air cargo logistics park.

Already an AMB customer, Nippon Express leases approximately one million sq.ft globally.

As at end-December 2007, AMB's portfolio in Japan totalled approximately 10.1 million sq.ft of operating and under development facilities, 6.3 million sq.ft of which are in Tokyo.

AMB has also expanded its presence in northern New Jersey with the acquisition of approximately 50 acres of land in Jersey City, on which it plans to develop an 878,000 sq.ft cross-docked facility.

AMB Pulaski Distribution Centre will serve the nearby Port of New York/New Jersey, and its design, construction and operation will conform to Silver Certification standards of the US Green Building Council's Leadership in Energy & Environmental Design (LEED™).

As at end-December 2007, AMB's portfolio in Northern New Jersey/New York totalled approximately 12.7 million sq.ft of operating and under development facilities.