ProLogis Leases 227,000 Square Feet at ProLogis Park Neuenstadt in Germany
- Two Customers Will Occupy Space in ProLogis' Development Portfolio At a Newly Developed Distribution Park -
DUSSELDORF, Germany, Oct. 20 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has leased a total of 227,000 square feet (21,100 square meters) to two customers in southwestern Germany at ProLogis Park Neuenstadt.
"In a challenging market environment, we are very pleased to have signed two new leases - both of significant size - in our German development portfolio," said Christian Bischoff, ProLogis managing director of northern Europe. "This distribution park has received significant interest from both new and existing ProLogis customers for its prime location, modern amenities and sustainable features."
The third-quarter transactions included leases with:
-- Panalpina, one of the world's leading providers of forwarding and logistics services, which signed an agreement for 114,000 square feet (10,600 square meters) in Building One at ProLogis Park Neuenstadt. Panalpina will use the space to serve its customers' regional and national distribution needs. This is the fourth lease agreement between ProLogis and the customer; Panalpina now occupies ProLogis distribution space in France, Germany and the United States. -- A leading retail company based in Germany, which signed an agreement for 113,000 square feet (10,500 square meters) in Building Two at the park. The logistics provider will use the space to support the distribution needs of its customers in southwestern Germany.
ProLogis Park Neuenstadt is located in the trade and industrial park of Unteres Kochertal (GIK), in the city of Neuenstadt. The site is near major transportation infrastructure and a large population center, and easily doubles as a business complex for companies with distribution and office operations. With three buildings and more than 773,000 square feet (71,800 square meters) at the park, ProLogis maintains the largest market share of available, modern industrial distribution space in the Heilbronn-Neuenstadt region of Germany.
ProLogis is the largest provider of industrial space in Germany with approximately 15 million square feet (1.4 million square meters) owned, managed or under development. Other ProLogis customers in the country include BLG, Dachser, DSV, Jack Wolfskin, LGI and Rewe.
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.
Released October 20, 2009