ProLogis Announces Leasing Activity in Louisville
- Transactions Bring ProLogis' Leased Percentage in Market to 97 Percent -
LOUISVILLE, Ky., Feb. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today the completion of four transactions in Louisville, bringing its overall leased percentage in the market to 97 percent.
"We are pleased to announce significant leasing activity in Louisville," said Darin Manning, first vice president and market officer for ProLogis. "The market is an attractive choice for our customers due to its availability of labor and strategic location in the Midwest along Interstates 65 and 71. And, Louisville is home to the UPS Worldport Facility, which enables businesses to offer expedited shipping options to their customers."
In early January, ProLogis signed a new lease agreement totaling 273,000 square feet of recently completed distribution space to a leading pharmaceutical services provider at ProLogis Park 65. The park comprises 1.2 million square feet in two buildings and is located off Interstate 65 in Brooks, Kentucky, approximately 14 miles south of Louisville; with this transaction, the park is now fully occupied.
Additional ProLogis leasing activity in Louisville includes three lease agreements for previously occupied space. Customers include:
-- APL Logistics, a leading third-party logistics provider, which expanded into an additional 167,000 square feet with a new lease agreement at ProLogis Park Cedar Grove, located in Shepherdsville, Kentucky at the intersection of Interstate 65 and KY 480. APL now occupies the entire space in building two at the park, totaling 382,800 square feet. This transaction marks the 22nd between the two companies. APL now occupies approximately 5.6 million square feet with ProLogis worldwide; -- A leading industrial controls manufacturer, which leased 300,000 square feet at Riverport Distribution Center Building III. The park is located near the intersection of the Greenbelt Highway and Freeport Drive in the Jefferson Riverport International master-plans industrial park; -- A third-party logistics provider specializing in the pharmaceutical industry, which leased 273,000 square feet at ProLogis Park I-65. The distribution park is located off Interstate 65 approximately 12 miles south of Louisville in Brooks, Kentucky.
ProLogis entered Louisville in 1995 and is the largest provider of bulk distribution space in the market with 5.5 million square feet in 17 buildings. Additional customers in the area include Exel Logistics, Kellogg's and Master Lock Company.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 136 markets across North America, Europe and Asia. The company has $40.8 billion of assets owned, managed and under development, comprising 548 million square feet (51 million square meters) in 2,898 facilities as of September 30, 2008. ProLogis' customers include 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 February 3, 2009