ProLogis to Develop Distribution Center in Germany for Outdoor Retailer Jack Wolfskin
DUSSELDORF, Germany, Oct. 9 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it will build a new industrial warehouse in northern Germany for Jack Wolfskin, a leading European provider of outdoor equipment, footwear and apparel.
The facility, totaling 366,000 square feet (34,000 square meters), will be developed on land recently acquired by ProLogis southwest of Hamburg. It will serve as the company's main distribution warehouse in Europe, serving markets throughout Germany, Austria, Belgium, Switzerland, Scandinavia, eastern Europe and the United Kingdom. Construction is scheduled for completion in the second half of 2008.
"We're extremely pleased to announce this new agreement with one of Europe's premier outdoor equipment and apparel companies," said Christian Bischoff, ProLogis senior vice president and regional director for northern Europe. "The German market continues to present a high volume of quality build-to-suit projects in retail and other key industry sectors. We have implemented a vertical sales strategy here specifically to address this market dynamic, and are working to capture a disproportionate share of these opportunities. We look forward to delivering a state-of-the-art facility to Jack Wolfskin and to serving as their facilities provider for the long term."
The Jack Wolfskin facility is expandable by an additional 215,000 square feet (20,000 square meters). In addition, ProLogis controls land at the site that can accommodate a second distribution center totaling 108,000 square feet (10,000 square meters). The site offers convenient access to the A1, A7 and A24 motorways, as well as the Port of Hamburg, one of Europe's largest ports by container volume.
Jack Wolfskin was founded in 1981 in Frankfurt, Germany. The company sells products through approximately 2,400 retail partners as well as 144 dedicated Jack Wolfskin stores across Europe.
ProLogis is one of the largest providers of distribution space in Germany, with more than 6.26 million square feet owned, managed or under development, as of June 30, 2007. In addition to Jack Wolfskin, customers in Germany include Deutsche Post Group, GEFCO, Geodis, Kuehne + Nagel, LOEWE, Meyer & Meyer, NYK Logistics and Schenker.
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 9, 2007