FedEx and Medline to Join Prologis International Park of Commerce
TRACY, Calif. (April 28, 2015) – Prologis, Inc., the global leader in industrial real estate, today announced that Medline Industries, Inc. and FedEx are the first customers at Prologis International Park of Commerce, a new master-planned park in Tracy, Calif.
Medline, the nation's largest privately held manufacturer and distributor of medical supplies and services, began construction on its 1 million square foot distribution facility in February. The facility, which will serve Northern California, is scheduled for completion in the first quarter of 2016.
FedEx began construction of its 467,000 square foot Northwest ground distribution center in January; the facility will be operational by the summer of 2016. The state-of-the-art distribution hub has a build-out potential of 651,000 square feet.
Prologis International Park of Commerce is one of the largest industrial parks on the West Coast. It has direct access to Interstate 580, Interstate 205 and Interstate 5 and is close to the San Francisco, Oakland, San Jose and Sacramento International Airports, as well as BNSF and Union Pacific Intermodal facilities. The park has the build-out potential of an additional 25 million square feet. Construction at the park began with a 1 million square foot speculative facility, which is scheduled for completion in August.
“Medline and FedEx chose the International Park of Commerce because of its unique location,” said Ryan George, vice president, market officer, Tracy. “There isn’t another master-planned, Class-A logistics and distribution park in the Central Valley that is closer to the Bay Area or that offers better access to three major interstates. The park will allow Medline and FedEx to connect with customers throughout the West Coast.”
Prologis currently owns and operates more than 11 million square feet and 30 buildings in the Tracy market.
ABOUT PROLOGIS
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of December 31, 2014, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 590 million square feet (55 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
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