Prologis Leases 225,000 Square Feet to Jaguar Land Rover in UK Development
SAN FRANCISCO, Aug. 18, 2014 /PRNewswire/ -- Prologis, the global leader in industrial real estate, today announced a new lease agreement for 225,000 square feet at Prologis Park Ryton in the United Kingdom, with Jaguar Land Rover.
The facility, which is part of Jaguar Land Rover's recently launched special operations division, will be the company's global hub for the creation of its high-performance, luxury bespoke vehicles.
"We are very excited by the capability and potential that this new facility will give us," said John Edwards, Jaguar Land Rover's managing director of special operations. "We will be creating truly iconic vehicles that reinforce the global reputation of both the Jaguar and the Land Rover brands as we expand our product portfolio and fulfill our ambitious plans."
The new facility, completed this May, is proximate to Jaguar Land Rover's headquarters, and is well-located at the heart of the motorway network, within easy reach of the M6, M69 and M40/M5.
"We are delighted that Jaguar Land Rover has chosen to establish its special vehicles operations technical center at Ryton," said Andrew Griffiths, managing director, Prologis U.K. "We are investing in our prime sites to create the best opportunities in the market for our customers, and we are pleased that our facility meets Jaguar Land Rover's requirements."
Prologis owns and manages approximately 20 million square feet (21,000 square meters) of logistics and distribution space in the U.K. as of June 30, 2014.
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of March 31, 2014, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 574 million square feet (53.3 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
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 Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and 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 and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt 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 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 ("REIT") status and tax structuring, (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 and funds, including our ability to establish new co-investment ventures and funds, (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 Prologis under the heading "Risk Factors." Prologis undertakes no duty to update any forward-looking statements appearing in this document.
SOURCE Prologis, Inc.
Released August 18, 2014