Prologis Furthers Presence in Japanese Industrial Market with Three New Development Projects
- May 15, 2014
Japan–Prologis, a leading owner, operator and developer of industrial real estate recently announced new development projects in Japan, one of the company’s core markets. The entity is set to build three new inventory logistics facilities in the Tokyo area, totaling approximately 3.2 million square feet of space.
The three projects that Prologis has lined up include the first building in the Prologis Park Chiba New Town, a new facility at the Prologis Park Yoshimi, as well as a new asset at the Prologis Park Narashino 5. The total expansion of the company’s portfolio in the metropolitan area of the Japanese capital will bring the developer’s tally to approximately 25 million square feet of industrial space managed and owned in the national market.
Prologis Park Chiba New Town will receive its first industrial building totaling 1.4 million square feet of space. Set to be located along National Highway No. 464, the inaugural building of the logistics park will offer great access to the nearby Narita International Airport.
Prologis Park Yoshimi, located in the immediate vicinity of the Ken-O Expressway, will be expanded by 1.1 million square feet, part of the announced development wave. The developer is looking to receive CASBEE ‘A’ certification for its new three-story building that will be fitted with a solar rooftop system, part of the environmentally-friendly development plan for the facility. CASBEE is a tool used in assessing and rating the environmental performance of real estate developments and features a number of specialized rating systems for various processes including CASBEE for Heat Island, CASBEE for Existing Building and CASBEE for Renovation.
The smallest of the three newly-announced development projects is the four-story building planned for Prologis Park Narashino. The facility would total 695,000 square feet of space, in the industrial park located just 12 miles away from Tokyo’s core. A similar solar rooftop system to the Yoshimi facility will be introuduced, while energy-efficient lighting will also be part of the package.