ProLogis Signs New Leases Totaling 858,000 Square Feet With DHL in Europe
AMSTERDAM, Netherlands, Feb. 4 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has signed new lease agreements for more than 858,000 square feet (79,700 square meters) of distribution space in Europe with DHL Exel Supply Chain, a leading global provider of third-party logistics services and subsidiary of the Deutsche Post World Net group.
"DHL is ProLogis' largest global customer, and we are pleased to be further expanding our relationship with the company in Europe," said Gary E. Anderson, president for ProLogis in Europe. "At the end of 2007, ProLogis had agreements in place for more than 7.8 million square feet (725,000 square meters) of space with DHL in 10 European countries. We believe today's announcement is a strong indication of the depth of our customer relationships and unmatched ability to serve their unique supply chain requirements."
"Our new facilities with ProLogis are an important extension of our strategic distribution strategy in Europe," said Leigh Pomlett, CEO Mainland Europe, DHL Exel Supply Chain. "We look forward to occupying the space, which will provide the flexibility required to serve our customers' evolving distribution needs as well as support the continued growth of our business."
Among the new transactions include: -- 420,000 square feet (39,000 square meters) leased in a facility under construction at ProLogis Park Tarancon near Madrid, Spain. DHL will use the space to distribute food products for multinational customers throughout the country. The 1.4 million-square-foot (130,000-square-meter) park, which is being built approximately 80 kilometers southeast of the capital, currently consists of one existing facility leased to DHL and two facilities under construction, both of which will be completed before the end of the year. -- 247,500 square feet (23,000 square meters) leased in a new, 915,000-square-foot (85,000-square-meter) industrial park ProLogis is developing near the city of Jonkoping, a major distribution hub in Sweden. DHL is expanding its regional logistics network and will use the facility to better meet the needs of its growing Nordic customer base. The park will comprise one multi-customer facility at full build-out and is scheduled for completion in early 2009. -- 190,500 square feet (17,700 square meters) leased at ProLogis Park Venlo III, a new 484,000-square-foot (45,000-square-meter) industrial park located in the city of Venlo, less than five kilometers from the German border. DHL will operate the space for Hannspree, a global television retailer, serving northern and western Europe. The building is one of several facilities comprising Trade Port West Business Park, a major industrial hub under development along the eastern border of the Netherlands.
DHL, a subsidiary of the Deutsche Post World Net group, is one of the world's largest providers of logistics, mail and transportation services, as well as financial services. Headquartered in Bonn, Germany, the company's subsidiaries include DHL, Exel, Deutsche Post and Post Bank. The company operates in more than 220 countries or territories around the world with a workforce of over 500,000 employees.
ProLogis is currently one of the largest providers of distribution space in Europe with more than 101 million square feet owned, managed or under development, as of September 30, 2007.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 20 countries across North America, Europe and Asia. The company has $34.4 billion of assets owned, managed and under development, comprising 483.0 million square feet (44.9 million square meters) in 2,669 properties as of September 30, 2007. 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 more than 1,300 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released February 4, 2008