ProLogis buys 1.2 million square feet near Los Angeles

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ProLogis purchased two distribution facilities totaling 1.2 million square feet in the Inland Empire submarket located in the Los Angeles Basin.

The total value of the transactions was not disclosed.

Both facilities were purchased from Allianz and are fully leased by ProLogis customers Kraft and Wal-Mart. Darla Longo and Barbara Emmons, both of CB Richard Ellis, represented Allianz and ProLogis in the transaction.

Kraft, a global leader in branded foods and beverages, leases a 455,000-square-foot facility located in the city of Ontario. Kraft is a longtime, multimarket customer of ProLogis, leasing eight facilities for a total of more than 2.3 million square feet, including this newly acquired facility. Wal-Mart, the world’s largest retailer with 2003 annual sales of $245 billion, leases the second facility, which totals 755,000 square feet and is located in Riverside County.

ProLogis is a provider of distribution facilities and services worldwide.

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