ProLogis Leases More Than 140,000 Square Feet in Slovakia to Tesco
BRATISLAVA, Slovakia, Jan. 22 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that it has leased more than 140,000 square feet (13,300 square meters) in Bratislava, Slovakia, to Tesco International Clothing Brand s.r.o., a division of Tesco plc, one of the world's largest food and general merchandise retailers.
Tesco will occupy space in a new, 290,000-square-foot (27,000-square-meter) building at ProLogis Park Galanta-Gan, a state-of-the-art distribution park located approximately 60 kilometers northeast of downtown Bratislava. Construction on the new facility commenced in July of 2008, and is scheduled for completion during the first quarter of 2009.
This is Tesco's third lease with ProLogis in Slovakia; the company also occupies 700,000 square feet (65,000 square meters) in another building at the same park and more than 375,000 square feet (35,000 square meters) of space at ProLogis Park Bratislava. In total, Tesco leases more than 2.3 million square feet (216,000 square meters) of space from ProLogis in Europe.
"Leading companies like Tesco continue to establish supply chain operations in Slovakia because of its strategic location within Central and Eastern Europe, low cost of labor and expanding transportation infrastructure," said Ben Bannatyne, regional director for ProLogis in Central and Eastern Europe. "We are pleased to offer Tesco additional warehouse space at ProLogis Park Galanta-Gan, and value their continued trust in our best-in-class distribution facilities."
"A modern supply chain is important to support the future growth of the company, so it is critical that we operate distribution facilities that are of the highest quality and can fulfil our warehousing expectations," said Alan Kershaw, Central Europe non food director for Tesco Stores SR. "Central and Eastern Europe is a key market for Tesco, and ProLogis once again met our stringent criteria. We look forward to expanding our business in the region and to occupying our newly leased industrial space."
ProLogis Park Galanta-Gan currently comprises two completed warehouse facilities totaling more than 1.7 million square feet (160,000 square meters) in addition to the 290,000-square-foot (27,000-square-meter) facility that is under construction. The park is strategically located near the international highway D1 (E58), which runs from Vienna through Bratislava and on to Russia, as well as the Bratislava airport and the Port of Bratislava, which connects to the Port of Rotterdam via the Danube River.
ProLogis' portfolio in Slovakia totals 4.17 million square feet (387,000 square meters) of industrial space, as of September 30, 2008. Major customers in the country include C&A, Brilux and Spandex, DHL, Gebruder Weiss, HOPI, Joebstl Warehousing, Lekkerland, Nay Elektrodom, Tesco, Transkam Slovakia, Weindel and Wincanton.
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 January 22, 2009