Prologis Completes 20 Build-to-Suit Development Projects in the First Half of 2017

Jul 06, 2017

Prologis Completes 20 Build-to-Suit Development Projects in the First Half of 2017

SAN FRANCISCO, July 6, 2017 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today announced it completed 20 build-to-suit development projects in the first half of 2017. These projects totaled more than 7 million square feet with a total expected investment of $430 million.

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Home Depot: Atlanta, GA

During the same period, the company also initiated 17 build-to-suit development starts representing more than 7 million square feet at a total expected investment of $620 million. More than 75 percent of those starts were signed with the company's multi-site customers, and more than 90 percent will be located in Global Markets.

"The strategic advantage of our land bank, combined with our extensive multi-site customer relationships, continued to drive strong activity in the first half of 2017," said Michael S. Curless, chief investment officer, Prologis. "This activity represents 50 percent of our year-to-date build-to-suit development starts—a healthy mix at this point in the cycle."

Prologis' First Half 2017 Build-to-Suit Completions


Customer

Industry

Market

Size (SF)

1

Home Depot

Retail

Atlanta, GA

1,039,680

2

Carrier Corporation

HVAC

San Antonio, TX

849,275

3

Sephora

Cosmetics

Memphis, TN

716,080

4

Cerveceria Cuauhtemoc

International Beverage Distributor

Monterrey, Mexico

662,500

5

Tesco

International Grocery

Bratislava, Slovakia

602,521

6

Bed, Bath and Beyond

Retail

Las Vegas, NV

525,200

7

Agata Meble

Retail

Central Poland

453,936

8

Wal-Mart

International Retail

Las Vegas, NV

342,243

9

HP Tonic

Retail

Prague, Czech Republic

326,739

10

Action Nederland BV

Retail

Paris, France

259,970

11

DHL

Supply Chain Management

Utrecht, Netherlands

256,698

12

Hitachi Finenext Transport

International Logistics

Tokyo, Japan

212,042

13

GEIS PL

Logistics

Central Poland

194,859

14

G. Gühring

Manufacturer

Bremen, Germany

186,431

15

DFS

Furniture Manufacturer

East Midlands, UK

153,353

16

Waberer's-Szemerey

Logistics

Budapest, Hungary

150,296

17

Geis Global Logistics

International Logistics

Central Poland

126,368

18

Orca Systems

Manufacturer

Rhine-Ruhr, Germany

100,438

19

Waberer's-Szemerey

Logistics

Budapest, Hungary

75,433

20

Raben Group BV

International Logistics

Bratislava, Slovakia

40,418




Total

7,274,480

 

Prologis' First Half 2017 Build-to-Suit Starts*


Customer Profile

Market

Size (SF)

1

Manufacturer

Dallas, TX

1,316,341

2

Food

San Francisco Bay Area

708,080

3

International E-Commerce

Tokyo, Japan

681,619

4

Cosmetics

San Francisco Bay Area

670,680

5

Retail

South Netherlands

469,091

6

International Logistics

Eindhoven, Netherlands

435,249

7

E-Commerce

South Netherlands

394,734

8

Transportation

Sendai, Japan

387,610

9

International Logistics

East Midlands, UK

379,213

10

International Logistics

Central Germany

378,362

11

Apparel

Mexico City, Mexico

367,556

12

Food and Beverage

East Midlands/UK

325,501

13

International Logistics

Northern Italy

317,223

14

International Logistics

Barcelona, Spain

292,240

15

Consumer Electronics

Paris, France

271,853

16

Textiles

Bratislava, Slovakia

174,365

17

Packaging, Paper and Plastics

Bratislava, Slovakia

75,993



Total

7,645,710

*Due to confidentiality, Prologis often does not disclose customer names at this stage of development.

ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2017, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 678 million square feet (63 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,200 customers across two major categories: business-to-business and retail/online fulfillment.

FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature.  All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic and political climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust status, tax structuring and changes in income tax rates (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document, except as may be required by law.

DHL: Utrecht, Netherlands

 

Sephora: Memphis, TN

 

Carrier Corporation: San Antonio, TX

 

Hitatchi Finenext: Tokyo, Japan

 

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SOURCE Prologis, Inc.

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