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REDLANDS, CA–Denver-based ProLogis has acquired a 700,000-sf industrial building that it will incorporate into its ProLogis Park Redlands. A lack of space in Ontario, the most vibrant part of the Inland Empire's distribution market, combined with a desire to remain close to one of the nation's strongest industrial meccas, led ProLogis to move eastward into Redlands.

"As we look at the Inland Empire industrial market in total, Inland Empire west has largely become an infill industrial market because there is such a scarcity of supply of existing buildings, and there's virtually no space left for development," Mike Del Santo, first vice president of ProLogis, tells GlobeSt.com. "The Inland Empire east has an abundance of land…and all industrial development is now taking place [there]."

The newly acquired distribution center will be the fifth building to reside in ProLogis Park Redlands. It is located at 1895 Marigold St. and was acquired from Rreef for an disclosed amount. The four other distribution centers within the Park total 1.8 million sf. The global provider of distribution facilities and services also recently announced that it has leased one of these distribution centers to Michelin North America. The 260,000-sf center inside the Park is located at 2290 Palmetto Ave. and will be used for warehousing and regional distribution of Michelin products. The addition of this new tenant means that all four of ProLogis' previously developed buildings at the Park are now 100% leased.