ProLogis Leases 382,000 Square Feet of Its Development Portfolio to Marks & Spencer in the United Kingdom
BIRMINGHAM, England, Sept. 9 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today it has signed a new lease agreement at ProLogis Park Stoke in the UK for 382,000 square feet to Marks & Spencer, a leading UK retailer.
"ProLogis' flexibility has resulted in the smooth and swift completion of this third-quarter transaction and has provided Marks & Spencer with a new building that provides additional distribution space in Stoke-on-Trent," said Jonathan Buck, UK first vice president, development for ProLogis.
ProLogis Park Stoke is located on Campbell Road approximately one hour from the Birmingham city center in the heart of the West Midlands and has easy access to the A500 dual carriageway from the M6 motorway at junction 15.
Andrew Griffiths, UK managing director for ProLogis said, "This transaction is proof of ProLogis' ability to provide our customers, such as Marks & Spencer, with market-leading services both in the availability of our buildings and land, and in the quality of our product."
This transaction at Stoke-on-Trent continues ProLogis' business relationship with Marks & Spencer. The retailer is scheduled to take occupancy of a one-million-square-foot distribution facility late in 2010 that ProLogis is in the process of constructing at Bradford.
Jason Keegan, head of general merchandise logistics at Marks & Spencer, says: "Our relocation to a new site in Stoke-on-Trent will give us even greater flexibility and efficiency in our supply chain operations. Our ongoing relationship with ProLogis enabled us to move quickly when the opportunity became available and we look forward to working with the company in Stoke-on-Trent."
ProLogis is one of the largest providers of distribution space in the UK with approximately 18.5 million square feet of assets owned, managed or under development. Other major customers in the country include ASOS.com, Bosch-Siemens, Debenhams, DHL, GEFCO, Honda Logistics, Sainsbury's, Screwfix, Spec Savers and Superdrug. For additional information about the company's UK portfolio, please visit www.prologis.co.uk.
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 September 9, 2009