14/11/2008
ProLogis European Properties (Euronext: PEPR), Europe’s largest owner of modern warehouse distribution facilities, announced today that it has signed two new lease extensions covering a total of 29,500 square metres.
The first agreement was signed with a multinational logistics group
for a 20,800 square metre lease extension in ProLogis Park Venlo in
The Netherlands. The company will extend its occupancy in Venlo DC2
for a further four years to March 2013. ProLogis Park Venlo is
located in the southeast corner of The Netherlands and is close to
the intersection of A67 and A73, which provides easy access to
Amsterdam to the north, Rotterdam to the west, Brussels to the
south and Cologne to the east.
The second agreement was signed with a French third party logistics
provider for 8,700 square metres at Aulnay, outside Paris. The
company will almost double its occupancy in Aulnay DC26, by taking
an additional 4,000 square metres of previously vacant distribution
space. The company currently leases 4,700 square metres in the same
facility. The new lease agreement will run for nine years, with a
break option in 2014.
Simon Nelson, head of asset management of PEPR
said: “These transactions, which are in line with current
market levels, demonstrate our proactive asset management and
enable us to sustain our high occupancy levels and rental income.
In addition, we are delighted to have the opportunity to extend our
relationships across Europe with these existing
clients.”
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 +44 207 518 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 the largest
pan-European owner of high quality distribution and logistics
facilities. 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 world’s largest owner, manager and developer of
industrial distribution properties.
As at 30 September 2008, PEPR has a portfolio of 364 buildings, owned both directly and indirectly, covering 8.0 million square metres in 12 European countries, with an open market value estimated at €6.0 billion. The combined portfolio has an occupancy level of 98.5% and an average of 4.8 years to the next lease break or 6.7 years to lease expiry. Of the combined portfolio, PEPR’s directly owned properties comprise 246 buildings, covering 5.2 million square metres in 11 European countries, with an open market value estimated at €3.9 billion.