ProLogis recently leased 600,000 square feet of industrial space to two customers at a new park it operates in Memphis, Tenn.
The total value of the transactions was not disclosed.
Kyocera Mita America, a document imaging company, has leased 300,000 square feet at ProLogis Park Stateline, an 80-acre park located about two miles southeast of Memphis International Airport. The facility will become the hub of Kyocera’s new national product distribution network, and will eventually service approximately 70 percent of the United States.
Franklin Sports, a maker of sports equipment for athletes of all ages, has leased another 300,000 square feet at the same location to support the continued growth of its business and will use the space for its regional distribution operations.
“These new lease agreements underscore the strength of Memphis as a national and regional distribution hub,” said Jeremy Giles, ProLogis vice president and Tennessee market officer.
ProLogis entered the Memphis market, which includes northern Mississippi, in 1995. The company’s current platform totals more than 10 million square feet of industrial space.
ProLogis is a provider of distribution facilities and services with 404.3 million square feet in 2,401 properties owned, managed and under development in 81 markets in North America, Europe and Asia as of June 30, 2006.