ProLogis European Properties leases nearly 70,000 square metres of distribution space in Central Europe
(Thomson Reuters ONE) -
Luxembourg - 22 March 2010 -ProLogis European Properties (Euronext: PEPR), one
of Europe's largest owners of modern warehouse distribution facilities, today
announces that it has signed five new lease agreements in Central Europe,
covering 68,800 square metres.
Three lease agreements were signed in Poland, the first with Viva Manufacturing
Poland, a subsidiary of the Viva Group, for 24,400 square metres at ProLogis
Park Teresin. The new five year lease renewal will run until June 2015. Viva has
occupied the building since its completion in June 2005 and is using the
facility for light manufacturing.
The second lease agreement in Poland for 13,400 square metres at ProLogis Park
Poznan II was signed with IBP Conex, a European leader in the manufacture of
connectors for gas, sanitary and heating systems. The ten year lease, with a
break at the end of the fifth year, runs from February 2010 until January 2020.
The third Polish agreement was a new letting of 7,800 square metres of
previously vacant space at ProLogis Park Poznan to Wincanton, a third party
logistics provider. The three year lease runs from March 2010 until the end of
February 2013.
Two lease agreements were also concluded for a total of 23,200 square metres of
distribution space at ProLogis Park Prague in the Czech Republic. The first for
13,400 square metres was signed with Teleplan, an electronics service company,
for an additional two years, at similar rental levels, extending their current
lease to July 2013. The previous lease, which ran from August 2007 was due to
expire in July 2011.
The second agreement, a new lease covering 9,800 square metres of previously
vacant space, was signed with ESA Logistics, a subsidiary of Hitachi Transport
Systems and one of the leading logistics companies in the Czech Republic and
Slovakia. This lease will run until July 2015.
Simon Nelson, head of asset management of PEPR said: "We are encouraged by the
level of activity we have seen in Central Europe over the last few months,
particularly in light of the competition for space in the region.
"These new lease agreements, all with existing customers, including two new
leases on previously vacant space, demonstrate the strength of our relationships
and the attractiveness of PEPR's portfolio. This is combined with our local
market knowledge and our flexibility to respond to the continuing demand from
occupiers for well-located, high quality logistics space. The transaction with
ESA Logistics is a good example of how we demonstrate understanding and the
ability to adapt to our customer needs while maintaining long term value in our
portfolio."
Roman Pekrt, CEO of ESA commented: "Our requirements, largely in terms of size,
changed throughout the course of our discussions with ProLogis - yet they
remained flexible and sensitive to our changing requirements throughout."
The transactions were completed on behalf of PEPR by ProLogis (NYSE: PLD),
manager of the PEPR portfolio.
-Ends-
For further information, please contact:
Investor relations
ProLogis European Properties
Jennifer van der Eem
+44 207 518 8708
jvandereem(at)prologis.com
Media
M:Communications
Ed Orlebar / Charlotte McMullen
+44 20 7920 2323 or 7920 2349
orlebar(at)mcomgroup.com
About ProLogis European Properties (PEPR)
ProLogis European Properties, or PEPR, is one of the largest pan-European owners
of high quality distribution and logistics facilities.PEPR was established in
1999 as a closed-end, real estate investment fund, externally managed by a
subsidiary of ProLogis (NYSE: PLD), a leading global provider of industrial
distribution facilities. In September 2006, PEPR was listed on Euronext
Amsterdam.
As at 31 December 2009, PEPR has a portfolio of 232 buildings, covering 4.9
million square metres in 11 European countries, with a market value of ?2.8
billion. The portfolio has an occupancy level of 96.1% and an average of 3.2
years to the next lease break or 5.3 years to lease expiry.
[HUG#1395918]
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