REDLANDS, CA—San Francisco-based Prologis has signed build-to-suit agreements for two facilities for BMW of North America LLC totaling 609,000 sq. ft.
Prologis will build a 326,500-sq.-ft. industrial property here at Prologis Redlands Distribution Center 11. The facility will provide an expansion option for an additional 96,000 square feet, increasing the prospective logistics space to 422,500 square feet.
The company is also building a 282,000-sq.-ft facility for BMW at Prologis Park 20/35 in Dallas. The building will have expansion capabilities to 370,000 square feet. At full build-out, the park will include more than 3.1 million square feet of logistics space.
In addition, Prologis has agreed to acquire a 204,000 square foot distribution facility from BMW of North America in Ontario, Calif. Richard Strader, senior vice president at Prologis, said this building is in a highly-desirable part of the Inland Empire West submarket and he expects strong customer interest in the property.
"These new agreements demonstrate the power of our strong global customer relationships and increase BMW's portfolio with Prologis to more than 2.2 million square feet in five markets, all of which have been build-to-suits," Strader said in a statement. "We are pleased to support the continued success of BMW and look forward to adding these new buildings to our global platform."