United Parcel Service (UPS) will lease a 770,000 square-foot warehouse located just off I-509 near Fife. The warehouse is on land owned by the Port of Tacoma and leased to Prologis, a San Francisco-based developer. Known as Prologis Park, the development is on about 80 acres of port land. In total, Prologis plans to develop three warehouses on the land. Prologis has a 50-year lease with the Port of Tacoma, with an option for a 25-year extension. At the end of the lease, the buildings revert to the port. The UPS facility is scheduled for completion this fall and will employ between 800 and 1,200 people. UPS also plans to keep operating at its current facility in Fife.