ProLogis Develops and Leases More Than 1.1 Million Square Feet in Poland
WARSAW, Poland, Jan. 28 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it signed new agreements during the fourth quarter of 2007 to develop and lease more than 1.1 million square feet (102,000 square meters) of industrial space in Poland.
"Leasing and development activity across Poland continues to be exceptional," said Michael de Jong-Douglas, managing director for ProLogis in central and eastern Europe. "The country has emerged as a truly dynamic location for manufacturing and distribution and is one of the fastest growing markets for ProLogis in Europe. With a large population, strong economy and low cost of labor, Poland has proven to be an important component of customers' local and regional logistics operations."
ProLogis signed new lease agreements in every major logistics region in Poland. Among the transactions are:
-- 185,000-square-foot (17,200-square-meter) build-to-suit signed at ProLogis Park Piotrkow II in central Poland with Vobis, the largest specialized provider of digital equipment in the country. Vobis is expanding its business operations and will use the new warehouse to enhance the efficiency of its distribution network. -- 157,000 square feet (14,600 square meters) leased at ProLogis Park Dabrowa in southwest Poland to Fiege, a leading European provider of third-party logistics services. Fiege currently leases 482,600 square feet (45,000 square meters) in three buildings at the park and a total of 575,000 square feet (53,400 square meters) from ProLogis in Europe and Asia. The rail-linked location serves as Fiege's primary distribution center for western, central and eastern Europe. -- 74,000 square feet (6,900 square meters) leased at ProLogis Park Poznan II in western Poland to DHL, a leading global provider of third-party logistics services and subsidiary of the Deutsche Post World Net group. DHL will operate the space as a regional distribution facility, serving customers throughout western and southern Poland. -- 52,000 square feet (4,800 square meters) of newly completed space leased at ProLogis Park Wroclaw in southern Poland to Rhenus Fastrack, a European provider of third-party logistics services. Rhenus Fastrack leases more than 295,000 square feet (27,400 square meters) from ProLogis at locations in the Czech Republic, Germany and Poland.
As of December 31, 2007, ProLogis' platform in Poland totaled more than 18.5 million square feet (1.72 million square meters) of industrial space owned, managed or under development.
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 January 28, 2008