ProLogis will construct a 171,157-sf building at ProLogis Park Alzenau, located in the Rhine-Main region of Frankfurt. New Wave Logistics will use the facility to serve Toyota, one of the world's largest automotive manufacturers. Construction will begin in May 2003 and is scheduled for completion in November 2003.
In making the announcement, Jorg Schroeder of ProLogis said the Rhine-Main region is one of the most important German target markets for ProLogis, "as it provides convenient access to leading regional highways and is located in close proximity to Frankfurt Airport."
Upon full development, ProLogis Park Alzenau will accommodate 807,293 sf. A ProLogis spokesperson was not immediately available Thursday to comment on the value of the agreement and how much of Park Alzenau has been built to date.
New Wave Logistics and its affiliates lease 1.8 million sf of distribution space in six markets globally.
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