ProLogis Leases 424,000 Square Feet to DHL in the Czech Republic
PRAGUE, Czech Republic, Nov. 29 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 424,000 square feet (39,400 square meters) of industrial space in the Czech Republic to DHL Logistics, a leading global provider of third-party logistics services and subsidiary of the Deutsche Post World Net group.
The company has leased 100 percent of the space in a recently completed building at ProLogis Park Prague-Jirny, a master-planned industrial park located approximately 20 kilometers east of Prague, along the D11 motorway. DHL now leases more than one million square feet at the park; earlier this year the company signed new agreements for two other recently completed buildings at the park comprising 642,000 square feet (59,700 square meters).
The Deutsche Post World Net group is a three-continent customer for ProLogis, leasing more than 12 million square feet (1.11 million square meters) at locations in North America, Europe and Asia.
"We are very pleased to have signed these new agreements with DHL, a recognized leader among third-party logistics providers and ProLogis' largest global customer," said Michael de Jong-Douglas, senior vice president and regional director for ProLogis in central and eastern Europe. "The Czech Republic has established itself as a prime location for distribution logistics, given its low cost of living, excellent labor pool and proximity to key markets across central and eastern Europe. Combined with recent transportation infrastructure improvements and a revived economy, demand for our high-quality warehouse facilities from retailers, manufacturers and third-party logistics providers continues to grow. We are pleased once again to be working with DHL and serving as their distribution facilities provider of choice."
"DHL continues to benefit from the facilities provided by ProLogis," said Filip Budik, managing director of DHL Czech Republic. "We have been able to leverage the company's strategic portfolio of land and assets, enabling timely delivery of the high-quality space we require. We look forward to occupying our new facility at ProLogis Park Prague-Jirny, which will allow us to improve the flexibility and efficiency of our regional logistics processes and to distribute goods on a larger scale."
DHL currently leases more than 2.65 million square feet (246,300 square meters) from ProLogis in central and eastern Europe. Its parent company, 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 around the world with a workforce of over 500,000 employees.
ProLogis Park Prague-Jirny consists of six buildings totalling more than 2 million square feet (192,200 square meters) of modern warehouse and office space. In addition to DHL, GLOBUS, a German retailer and hypermarket chain owner, leases 323,000 square feet (30,000 square meters) at the park.
As of September 30, 2007, ProLogis' platform in central and eastern Europe totaled more than 29 million square feet (2.7 million square meters) of industrial space owned, managed or under development, concentrated in key markets in the Czech Republic, Hungary, Poland, Romania and Slovakia.
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 November 29, 2007