Manufacturing is booming in China, and massive seaport expansion projects are under way. Now what the country needs is DCs. At least that's how ProLogis sees it. The global industrial real estate developer and distribution service provider has signed agreements to build distribution parks in several locations across China, including Qingdao, Hangzhou and Ningbo, which are all located along China's eastern coast.
ProLogis's initial plans call for building more than 3 million square feet of industrial space at these parks, which represents an aggregate total investment of more than $90 million. The new facilities will be opened in phases over the next 18 months.