ProLogis Completes First Lease Transaction in Rome
- 327,000-Square-Foot Facility at ProLogis Park Anagni 100 Percent Leased; Building Developed Using Sustainable Technologies and Construction Principles -
ROME, May 5 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 327,000 square feet of distribution space in Rome, Italy, to Coop Italia, a major Italian supermarket chain.
The customer has leased 100 percent of a recently completed distribution facility at ProLogis Park Anagni, where it plans to serve its network of retail grocery outlets throughout the greater Rome metro area. The warehouse, which is ProLogis' first in Rome, was developed using sustainable construction principles and a number of energy-efficient and environmentally friendly technologies.
Among these features include utilization of recycled and locally-sourced building materials, installation of a wind-powered rainwater harvesting system, high performance warehouse lighting, solar-powered exterior lighting and photo-catalytic pavement, which is designed to absorb carbon emissions from idle trucks.
"We are very pleased to announce our first lease transaction in Rome," said Ranald Hahn, ProLogis managing director of southern Europe. "Demand for quality distribution space in southern Italy from the region's distributors and third-party logistics providers has grown steadily over the past several quarters. However, the warehousing property market in Rome is in its initial phases, resulting in pent-up demand for a limited supply of distribution space."
Pascal Luciani, ProLogis first vice president, market director of Italy added, "We believe that this dynamic, combined with our sustainable warehouse construction expertise, provides considerable opportunity for ProLogis as we grow our portfolio in this region."
ProLogis Park Anagni is located approximately 30 miles south of Rome's central business district along the A1 motorway, the country's primary north-south transit corridor. The site offers easy access to the Rome ring road, the main highway around the Italian capital, as well as the Leonardo Da Vinci International Airport and the Port of Civitavecchia. Currently, ProLogis is pursuing acquisition opportunities throughout southern Rome and hopes to begin development on a second industrial park before the end of the year.
Coop Italia is the largest retail company and consumer organization in Italy, with approximately 6 million card-holding members. The company comprises more than 160 cooperatives with over 1,260 stores, operated by more than 52,000 employees.
ProLogis currently operates more than 7.86 million square feet (730,500 square meters) of distribution space in Italy, concentrated around the markets of Milan, Bologna, Padua and Turin. Current customers include Ceva Logistics, NYK, Geodis, ND Logistics and Indesit Group.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 121 markets across North America, Europe and Asia. The company has $38.8 billion of assets owned, managed and under development, comprising 526.3 million square feet (48.9 million square meters) in 2,817 properties as of March 31, 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 May 5, 2008