ProLogis Leases 127,000 Square Feet in Northern Germany
- Volkswagen Subsidiary Leases 78,000 Square Feet in Cologne -
- KfH Logistics Leases 49,000 Square Feet in Alzenau -
DUSSELDORF, Germany, May 21 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that it has signed two new lease agreements for more than 127,000 square feet (11,850 square meters) of recently developed space at distribution parks in northern Germany.
"We continue to see customers reconfiguring their supply chains to adapt to the current environment, despite softer overall market conditions," said Christian Bischoff, regional director for ProLogis in northern Europe. "ProLogis' portfolio of assets is among the most strategic and well-located in the market. This leading position, combined with our commitment to providing first-rate customer and property management services, enables us to continue to capture these opportunities as they materialize."
Volkswagen Original Spare Parts Logistics, which distributes Volkswagen-brand car tires and other spare parts, had an immediate need for warehouse space that would enable them to cost-effectively distribute to their network of suppliers throughout northern Germany. They selected ProLogis Park Cologne Eifeltor, where they will occupy more than 78,000 square feet (7,250 square meters) of space in a recently completed facility. The park, which is located 11 kilometers south of downtown Cologne, offers convenient access to the city ring road, Deutsche Bahn bimodal terminal and Cologne-Bonn International Airport.
KfH Logistics, the distribution arm of dialysis and kidney transplant services provider KfH, needed warehouse space to securely store and distribute medical products and medicine to its network of more than 200 healthcare centers in northern Germany. The company signed a lease for more than 49,000 square feet (4,600 square meters) at ProLogis Park Alzenau, which is now fully leased. KfH is relocating to Alzenau from an older, non-ProLogis warehouse nearby in order to take advantage of ProLogis' modern facility design and access to several major highways and large population centers.
ProLogis is the largest provider of industrial space in Germany with approximately 15.7 million square feet (1.46 million square meters). Other ProLogis customers in Germany include LGI, Jack Wolfskin, DSV, Dachser, Rewe and BLG.
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 www.prologis.com.
Released May 21, 2009