ProLogis European Properties redevelops CEVA facilities in Italy, adding 11,100 square metres of leasable space
21/05/2007
21 May 2007 – Luxembourg
– ProLogis European Properties (Euronext: PEPR),
Europe’s largest owner of modern distribution facilities,
announced today that it has redeveloped two distribution facilities
leased to CEVA Logistics, a leading global logistics company, at
ProLogis Park Lodi, near Milan, to include an additional 11,100
square metres of leasable space.
The redevelopment replaces and expands two second generation
buildings of eight metre clear height and 49,000 square metres with
two ten metre clear height state-of-the-art facilities covering
24,600 square metres and 35,500 square metres, for a total of
60,100 square metres. CEVA Logistics will occupy the
redeveloped space under a multi-year agreement. The
transaction was completed on behalf of ProLogis European Properties
by ProLogis (NYSE: PLD), manager of the PEPR portfolio.
“We’re very pleased to be able to expand our facilities
within ProLogis Park Lodi, since its strategic location enables us
to distribute goods both locally and regionally” said
Gianfranco Sgró, managing director of CEVA Logistics for
Italy, Spain and South America. “Our updated facilities
will allow us to serve our growing customer base more
efficiently.”
Robert Watson, chief executive officer of PEPR, said “We are
delighted to have the opportunity to extend our relationship with
CEVA Logistics, one of our largest customers, as they expand their
operations in southern Europe. The redeveloped buildings both
enhance ProLogis Park Lodi and bring the buildings in line with the
rest of our high-quality, state-of-the-art portfolio.”
ProLogis European Properties’ total investment in the site
expansion will be circa €17.6 million and is expected to
provide an initial yield in line with the market. The lease
term on the facilities has been extended to eight and nine years
following completion of the property expansion.
ProLogis Park Lodi is located 30km south of Milan, an ideal
position to serve both the northern and southern regions of Italy,
including the Tyrrhenian and Adriatic Coast. The park
currently comprises seven buildings totalling 228,700 square metres
of space; five of those facilities, totalling 162,900 square
metres, are owned by ProLogis European Properties.
For further information, please contact:
Investor relations
ProLogis European Properties +44 20 7518 8708
Jennifer van der Eem, VP Investor Relations
jvandereem@prologis.com
Media
M:Communications +44 20 7153 1523 or 7153 1549
Ed Orlebar / Charlotte McMullen
orlebar@mcomgroup.com /
mcmullen@mcomgroup.com
About ProLogis European Properties
(PEPR)
ProLogis European Properties, or PEPR, which
listed on Euronext Amsterdam on 22 September 2006, is a leading
pan-European owner of high quality logistics
facilities. PEPR's portfolio of real estate is located
in 25 submarkets within 11 European countries. Established in
1999, PEPR is a real estate investment fund (organised as a
Luxembourg closed-ended fonds commun de placement) externally
managed by a subsidiary of ProLogis, the largest U.S. based real
estate investment trust that operates a global network of
industrial distribution properties.
As at the end of March 2007, PEPR owned 292 distribution facilities
covering approximately 5.7 million square metres of leasable
space. PEPR’s customers are large third party logistic
service providers as well as a broad range of companies in the
retail and manufacturing sectors.
About CEVA Logistics
CEVA Logistics is a
leading global logistics company. CEVA designs, implements and
operates complex supply chain solutions on a national, regional or
global scale for medium to large enterprises. With 38,000 dedicated
professionals CEVA manages over 7 million square meters of
warehouse space and operate an extensive global network with
facilities in 26 countries worldwide.
PEPR results for the quarter and year ended 31 December 2011
PEPR results for the quarter and year ended 31 December 2011 (81KB)
08 February 2012
