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ProLogis Secures Development Rights at Beijing Capital International Airport

BEIJING-The Denver-based developer of distribution space secures 1.05 million sf of development rights for 26.7 acres at Beijing Capital International Airport, and the right of first refusal for any distribution development on additional land within the Beijing Airport Logistics Park.

By Brian K. Miller | Updated on May 18, 2005

BEIJING-ProLogis has secured its position as the exclusive developer of distribution facilities at Beijing Capital International Airport. The Denver-based specialist has secured 1.05 million sf of development rights for 26.7 acres at Beijing Capital International Airport, as well as the right of first refusal for any distribution development on additional land within the Beijing Airport Logistics Park.ProLogis chief executive Jeffrey Schwartz says it is not only ProLogis’ first investment in the Beijing market, but also its first investment in an airport logistics park in China. “Given Beijing’s status as the economic and transportation hub for northern China–and with the Olympic Games coming to Beijing in 2008–the customer interest in our facilities is expected to be strong,” Schwartz says in a prepared statement. Located about two miles from the cargo terminal at Beijing Capital International Airport and 12 miles from Beijing’s CBD, Beijing Airport Logistics Park is one of only three properties in Beijing designated by the municipal government as logistics hubs. ProLogis’ development within the park, ProLogis Park Beijing Airport, will consist of four buildings developed in two phases. Phase I will consist of a 263,510-sf facility slated for completion in the first quarter of 2006. Phase II will consist of three distribution facilities totaling 790,530 sf. ProLogis estimates its total investment in the park is about US$36 million.

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