MEMPHIS, Tenn., April 10 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that it has leased approximately 211,000 square feet of recently developed distribution space to Cardinal Health, a global provider of products and services that improve the safety and productivity of health care.
Cardinal Health will occupy the space at ProLogis Park DeSoto, a master-planned distribution park near Memphis in Olive Branch, Mississippi. The company now leases just under one million square feet from ProLogis in five locations throughout the United States. Cardinal Health will utilize the space to distribute medical and surgical products to hospitals, clinical laboratories, ambulatory care facilities and physician offices across Northern Mississippi, Western Tennessee and the entire state of Arkansas.
"Cardinal Health is a valued customer, and we are pleased to expand our relationship with this lease in Olive Branch, Mississippi," said Jeremy Giles, senior vice president and Southeast regional director for ProLogis. "Cardinal Health selected our facility for its high-quality design and superior location, which will enable more efficient delivery to its customers."
ProLogis Park DeSoto is positioned at the intersection of Highway 305 and Highway 78. Phase one of construction at the park was completed in early 2008 and included two buildings totaling 980,464 square feet. With this transaction, the park is now 82 percent leased. Additional ProLogis customers at ProLogis Park DeSoto include GE Energy and Menlo Worldwide Logistics.
With a portfolio comprising 9.2 million square feet, ProLogis is one of the largest providers of industrial distribution space in the greater Memphis metropolitan area. In addition to Cardinal Health, ProLogis customers in the market include Pottery Barn, Kyocera, Sears Holding Corporation, International Paper, Cummins Engine and Cooper Lighting.
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.
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