ProLogis today announced it has leased approximately 165,000 square feet of space in Kentucky to Best Buy, one of the nation’s largest retailers of consumer electronics and other products.
The value of the transaction was not disclosed.
Best Buy’s Geek Squad subsidiary will lease the space at ProLogis Park 65, a newly opened industrial park located near Louisville International Airport. The facility, to be called “Geek Squad City,” will support the work of approximately 500 employees who repair damaged PCs and laptops from customers nationwide.
“We’re gratified that Best Buy has chosen to work with ProLogis to meet its unique needs in Kentucky,” said Doug Kiersey, ProLogis senior vice president. “The opening of ProLogis Park 65 last year further extended our position as the largest provider of industrial distribution space in the emergent Louisville market. As a result of this transaction, our initial facility at the park is now more than 80 percent leased, and we look forward to additional leasing activity at this location in coming quarters.”
In addition to Best Buy, Amerisource Bergen, a provider of supply chain services to the pharmaceutical industry, also leases space at the park. At full build-out, ProLogis Park 65 can accommodate up to 1.2 million square feet of industrial space.
ProLogis is a provider of distribution facilities and services with 388.6 million square feet owned, managed and under development in 79 markets in North America, Europe and Asia as of March 31, 2006.