Hillwood began construction of a 333,372 square foot building in its Lakeside Trade Center development in Flower Mound, TX. It is one of two new speculative buildings that will be completed in December 2007. This brings Hillwood's total commercial space under construction in Northern Texas to over 5 million square feet. This includes nearly 2 million square feet under construction at Alliance, 1.3 million square feet under construction at Victory, and another 550,000 square feet under construction at DeSoto.
ProLogis announced it has formed four new property funds that will own state-of-the-art distribution centers in Europe, the United States, Mexico, and South Korea. The new funds have a combined capacity of over $14 billion and will serve as exclusive investment vehicles for properties from ProLogis' development pipeline in their respective regions, the company said.
This brings to $33 billion, the total assets under management in funds, said ProLogis.
At the Port of Vancouver, WA, Page One Northwest will lease warehouse space at the port. The lease includes 8,400 square feet at a base rate of $0.34 per square foot per month.
The Port of Rotterdam in the Netherlands opened a new intermodal terminal. The Bertschi terminal provides rail intermodal connections to southern Germany and Italy. Additional links to Eastern Europe and other destinations will be incorporated later in the year, said port officials.
"The new rail hub will play an important role in the pan-European intermodal network of Bertschi, the leading bulk logistics service provider for the European chemical industry," stated port officials. The connections will allow both local producers and deep-sea operators to mode shift from congested highways to rail and waterways.
Further expansion of the current terminal handling capacity of 120,000 twenty-foot-equivalent units (TEUs) is planned.