ProLogis Leases More Than 300,000 Square Feet in the United Kingdom
-- Company Signs New Agreements with Samson Holding Limited and Culina Logistics --
BIRMINGHAM, England, Jan. 20 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that it has leased more than 300,000 square feet of new distribution space at two major parks in the United Kingdom.
Samson Holding Limited, an investment holding company principally engaged in the manufacturing and trading of residential furniture, has leased approximately 188,000 square feet of space at ProLogis Kingston Park, a 1.45 million-square-foot industrial park conveniently located at the junction of the A1139 and A1 motorways in Peterborough.
Culina Logistics, one of the U.K.'s leading supply chain specialists for the food and drink industry, has leased more than 116,000 square feet of space at ProLogis Cabot Park near the city of Bristol. The park provides excellent access to the M4, M5 and M49 motorways, and is strategically positioned between London, Wales, Birmingham and the Southwest.
"We are extremely pleased to have secured these new lease agreements at our distribution parks in Peterborough and Bristol," said Andrew Griffiths, managing director for ProLogis in the United Kingdom. "There is no doubt that demand for industrial logistics facilities in the U.K. slowed in 2008 due to volatility and unease in the financial and consumer markets. However, when consumer confidence returns to the U.K., ProLogis has both the buildings and land positions to rapidly respond to renewed requirements for warehouse space. We will be working hard to ensure this demand is met with our strategically located, state-of-the-art distribution facilities."
Trading as Willis & Gambier U.K. Limited, Samson Holding Limited's new facility at ProLogis Kingston Park, completed in December of 2007, provides an office and consolidated distribution hub serving independent retail outlets throughout the central U.K.
Culina Logistics' new facility, completed during 2008, will help them expand their service capability in southwest England to meet the growing requirements of their existing customer base. Culina is relocating from another site in the area into the facility at ProLogis Cabot Park and is scheduled to occupy the building later this month.
"The Bristol facility is an important part of Culina's development plan," said Steve Winwood, commercial director for Culina. "It enables us to meet the growing requirements of our current customers and to target new business, particularly from the southwest region."
ProLogis' U.K. distribution portfolio currently comprises 20 million square feet of industrial space owned or managed. Other major customers in the country include ASOS.com, Bosch-Siemens, The Co-operative Group, Debenhams, DHL, GEFCO, Honda Logistics, Marks & Spencer, Sainsbury's, Screwfix, Spec Savers and Superdrug.
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 20, 2009