Finance  Net Leasing
ProLogis Inks Leases in Baltimore, Japan
Jun 19, 2009

Industrial REIT ProLogis has signed two separate lease agreements with tenants in Baltimore and Japan.

The firm agreed to terms on a 92,000-square-foot lease at ProLogis Park Desoto in Baltimore with Price Modern, one of the largest commercial furniture dealers in the United States. The tenant will occupy Building F, which was built in 1959 and completely renovated by ProLogis upon the REIT’s acquiring the property in 2007. With the Price Modern lease, the 146,000-square-foot building is now fully-leased. Bill Pellington of CB Richard Ellis Inc. represented Price Modern in the lease negotiations, while ProLogis was represented by CBRE’s Ben Meisels, Adam Weidner and Mike Roden.

Meanwhile, in Japan, ProLogis leased some 114,000 square feet of space to Ricoh Logistics System Co., a third-party logistics provider. Ricoh will occupy space at the new ProLogis Parc Kitanagoya, a four-story, 460,000-square-foot complex located in the city of Nagoya, expected to complete construction in July. With the lease, Ricoh Logistics occupies more than 860,000 square feet of ProLogis-owned space across the globe.



 
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ProLogis Inks Leases in Baltimore, Japan
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