Prologis Leases 540,000 SF in Netherlands to Syncreon in Tilburg
SAN FRANCISCO, Nov. 28, 2011 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, announced today that it has signed a lease agreement with Syncreon, a worldwide logistics service provider, for approximately 540,000 square feet (50,160 square meters) at Prologis Park Tilburg in the Netherlands. This transaction marks one of the largest industrial leases signed in the country this year.
Syncreon will occupy three spaces in the Netherlands facility to serve the European business of an international computer manufacturer. Strategically located in the south-central part of the country near the Belgian border, Prologis Park Tilburg is a modern distribution complex that allows for multimodal transport at a midpoint between Rotterdam and the German industrial zone.
"This is a significant step for us," said Brian Murphy, managing director for Syncreon Benelux. "Now we have a base from which we can focus on providing services to our clients. And when it's time to grow, we have the opportunity to stay where we are and expand from here."
"We are very pleased to expand our relationship with Syncreon and to accommodate their requirements at our state-of-the-art distribution space," commented Philip Dunne, managing director and president, Prologis Europe. "Our customers in Europe remain focused on improving supply chain efficiencies, which drives the demand for functional, modern distribution space. As the owner of the best portfolio of modern logistic facilities in Europe, we are well positioned to meet the growing needs of our global customers."
Prologis is the leading provider of industrial space in the Benelux region with approximately 11.8 million square feet (1.1 million square meters) as of September 30, 2011.
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 September 30, 2011, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 55.7 million square meters (600 million square feet) in 22 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
SOURCE Prologis, Inc.
Released November 28, 2011