US warehousing giant ProLogis expands at Dailian port

ProLogis, a Colorado real estate investment trust (Reit) will build an industrial park at the Port of Dailian, China's eighth largest port by container volume, reports The Denver Business Journal. The New York-listed Reit, which has emerged as the largest developer of warehouse space in the world, said it has enough land at Dailian to build more than 3.1 million square feet of space. ProLogis also has purchased two existing warehouses there covering a combined 235,000 square feet, 95 per cent of which is already leased. ProLogis made its entry into China in 2004 and by September this year, the Reit had 4.1 million square feet in operation and another 3 million square feet under development. The company has port operations at Tianjin, Shanghai, Qingdao, Ningbo, Shenzhen and Guanghzhou.