Clarion and DHL to develop Brazilian logistics facilities
Clarion Partners and DHL Supply Chain have announced a joint venture to build three facilities in Sao Paulo, Brazil.
The industrial complex will consist of three buildings totalling 1.4m sq ft and is expected to be completed by 2017 according to Clarion. The company announced that it has initially invested $100m in the new facility.
Jeb Belford, Managing Director at Clarion, said "With a lack of high quality warehouse space in many parts of the country, we believe this provides an excellent opportunity to participate in the continued expansion of this increasingly important market."DHL has agreed to lease approximately half of the first building when it is completed this summer. It is also expected to lease substantial portions of buildings two and three upon their completion.