ProLogis Increases European Leasing

Dec. 1.09 | About: Prologis (PLD)

With signs of market stabilization, ProLogis (NYSE:PLD), a leading global provider of distribution facilities, recently leased about 378,000 square feet of its development portfolio in various European countries to a diverse range of global customers.

About 104,000 square feet were leased to a premier German retailer that operates in 25 countries across the globe. The lessee will occupy space at ProLogis Park Neuenstadt Building One in southwest Germany. ProLogis also leased 81,000 square feet at ProLogis Park Bologna, a distribution facility near Bologna, Italy, to Plenty Market, a retailer of general consumer products.

In addition, about 68,000 square feet were leased to a third-party logistics provider at ProLogis Park Clesud Building Seven in southern France. At the same time, about 67,000 square feet were leased to Honold International, a third-party logistics provider serving customers in 22 locations throughout Germany, Romania, Russia, Slovakia and China. The lessee will occupy the space at ProLogis Park Augsburg Building Two in southern Germany near the city of Munich. Simultaneously, ProLogis leased 58,000 square feet to Euro Freight Logistics, a third-party logistics provider, at ProLogis Park Sochaczew Building Five near Warsaw, Poland.

ProLogis owns and manages interests in over 2,500 distribution facilities, service offices and properties spanning 475 million square feet of space. With a portfolio of 124.9 million square feet (including properties under development), ProLogis is also the leading provider of industrial and distribution space in Europe.