ProLogis Signs 475,000-Square-Foot Build-To-Suit Agreement With C&A France Near Paris
PARIS, Sept. 2 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it will build a new, 475,000-square-foot (44,100-square-meter) industrial warehouse near Paris for C&A France, the French subsidiary of international clothing retailer C&A.
The facility will be developed approximately 45 kilometers southeast of the capital in the city of Presles. C&A will use the space as a regional distribution center, distributing various lines of apparel to its network of retail stores throughout northern and central France. Construction on the building, which will eventually be rail-served, is scheduled to begin in the second half of 2008.
"The French industrial property market continues to present build-to-suit development opportunities," said Ranald Hahn, managing director for ProLogis in southern Europe. "However, it is becoming challenging to secure large, strategically located, rail-served sites in the greater Paris area. Presles is quickly emerging as a strong alternative for customers with regional distribution requirements and multi-modal transit needs, and we are pleased to serve as C&A's facilities provider of choice in this important new market."
"We selected ProLogis for their quality of product and proven track record," said Andre Brenninkmeijer, chief executive officer for C&A France. "The company recently completed development of a 215,000-square-foot facility for us in Slovakia. We have great confidence in ProLogis and their ability to meet our strategic supply chain needs as we continue to expand our global business operations."
C&A's new facility will be less than 55 kilometers from Charles de Gaulle Airport, the busiest airport in France, near the A104, also known as the Parisian beltway. This road links to the A4, A1, A5, A6, A16 and A20 motorways, providing customers with access not only to major markets in France but also in Germany, Belgium, Switzerland, Italy and Spain.
In addition to the C&A facility, ProLogis controls land at the site that can be used to expand the building another 129,000 square feet (12,000 square meters). ProLogis also is pursuing entitlements for a 134-acre parcel of land nearby to support a second rail-served distribution park that could comprise up to 1.6 million square feet (150,000 square meters) of space at full build-out.
C&A is one of the leading fashion retail companies in Europe. It opened its first store in the Netherlands in 1861 and today has more than 1,200 stores in Europe. Currently, C&A employs 34,000 people, of which 2,700 work in 109 shops located throughout France.
ProLogis is one of the largest providers of distribution space in France with more than 26 million square feet owned, managed or under development, as of June 30, 2008. In addition to C&A France, customers in the region include AD Distribution, Coliposte, Danone, Geodis, Smecta and Sony.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released September 2, 2008