ProLogis Leases 158,000 Square Feet to Leading Online Fashion Retailer Near London
BIRMINGHAM, England, Oct. 23 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 158,000 square feet near London to ASOS.com, a leading online apparel retailer.
The company will occupy 100 percent of a recently completed distribution center in the town of Hemel Hempstead, on the M1 motorway, the UK's primary north-south corridor. ASOS.com is consolidating its logistics operations into the new ProLogis facility, and will use the space as its exclusive, nationwide distribution center for its extensive range of men's and women's clothing, accessories and beauty brands, serving customers throughout the country.
"We're very pleased to announce this new agreement with ASOS.com," said Alan Curtis, managing director and head of UK operations for ProLogis. "Online retail is one of the fastest growing industry sectors in the United Kingdom, with Internet-based sales growth exceeding 370 percent over the past four years. This market segment presents substantial opportunities for industrial developers with high-quality facilities in the right locations. We're pleased to be working with ASOS.com, one of the fastest growing online retailers in the United Kingdom, and look forward to serving as their distribution facilities provider."
In addition to ASOS.com, ProLogis leases approximately 2.3 million square feet to other retailers in the United Kingdom with online sales strategies, including Amazon.com, Tesco, Superdrug and Screwfix.
ProLogis is the United Kingdom's largest provider of industrial distribution facilities, with more than 17.6 million square feet of industrial space owned, managed and under development, as of June 30, 2007. ProLogis customers in the UK comprise a wide variety of industries, including amazon.com, AS Watson, Bosch-Siemens, Cinram, Honda Logistics, Pirelli, Sainsbury's and Screwfix.
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 105 markets across North America, Europe and Asia. The company has $29.9 billion of assets owned, managed and under development, comprising 446.9 million square feet (41.5 million square meters) in 2,523 properties as of June 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 October 23, 2007