ProLogis Leases 545,000 Square Feet to Willis & Gambier in the United Kingdom
LONDON, Jan. 17 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, today announced that it has leased 545,000 square feet of industrial space in the United Kingdom to Willis & Gambier, a leading British supplier of fine furniture.
The company has leased 100 percent of an inventory facility located at ProLogis Kingston Park, a 1.45 million-square-foot master-planned industrial park being developed in the city of Peterborough, UK. Willis & Gambier is consolidating from three existing facilities into the new, larger building, which will serve as its nationwide distribution center for various lines of its bedroom, dining room and occasional furniture.
"We're very pleased to announce this agreement with Willis & Gambier in Peterborough, which is strategically located near the East Midlands, one of the UK's largest logistics hubs," said Alan Curtis, managing director for ProLogis in the UK. "With convenient access to modes of transportation and large local population, Peterborough has quickly become an attractive place for companies with large-scale distribution requirements. So far, we have leased more than 1.27 million square feet of inventory space and have just completed development on a third facility at the park, for which we are already seeing strong activity. We look forward to working with Willis & Gambier in Peterborough and to serving as their facilities provider of choice."
"We selected ProLogis to provide our new national distribution center based on the quality of product and their ability to quickly meet our distribution facility requirements," said Michelle Garrett, operations director for Willis & Gambier. "ProLogis Kingston Park will serve as an ideal location for our business operations, offering access to a high-quality labour pool and an excellent regional transportation infrastructure."
Located at the junction of the A1139 and A1 motorways, ProLogis Kingston Park is within a one-hour drive of four major airports -- London Stanstead, Luton, Birmingham International and East Midlands -- and is in close proximity to multimodal transportation corridors. The park consists of three facilities; the Willis & Gambier facility, an 187,000-square-foot inventory building completed earlier this month and a 726,000-square-foot facility leased to Debenhams, a major UK department store and leading online retailer.
Founded in 1989, Willis & Gambier is a leading UK manufacturer and supplier of fine furniture. The company distributes its products to a network of independent outlets and exclusive retailer brand collections throughout the country.
ProLogis is the United Kingdom's largest provider of industrial distribution facilities, with approximately 17.38 million square feet (1.61 million square meters) of industrial space owned, managed and under development, as of September 30, 2007. Other ProLogis' customers in the region include ASOS.com, Bosch-Siemens, The Co-operative Group, GEFCO, Honda Logistics, John Lewis, Pirelli, Screwfix, Superdrug and Tesco.
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 17, 2008