ProLogis European Properties improves occupancy in Central Europe with new leases over 23,100 square metres
9/09/2009
ProLogis European Properties improves occupancy in Central Europe with new leases over 23,100 square metres
ProLogis European Properties (Euronext: PEPR), one of Europe’s largest owners of modern distribution facilities, announced today that it has signed two new lease agreements covering 23,100 square metres in Prague, Czech Republic.
The first lease is with DHL Solutions, a leading global provider of third-party logistics services and subsidiary of Deutsche Post DHL, in ProLogis Park Prague. DHL is extending its lease for 13,500 square metres of space to December 2011 with no lease break options.
Raben Logistics Czech, part of Raben Group one of the leading logistics operators in Central and Eastern Europe, has leased 9,600 square metres of previously vacant space in ProLogis Park Prague for four years.
“These lease agreements, at market rents, continue the positive momentum achieved to date and reflect our focus on maximising portfolio occupancy,” said Simon Nelson, head of asset management of PEPR. “The quality of the PEPR portfolio together with our local market knowledge enable us to respond quickly to continuing demand from occupiers for well-located, high-quality logistics space.”
ProLogis Park Prague (D1 West & D1 East) is located approximately 11 km southeast of Prague at the Ricany/Jesenice junction, directly off the major D1 Motorway. This location permits travel to Prague city centre within 15 minutes and Brno within 1 hour 30 minutes.
The transactions were completed on behalf of PEPR by ProLogis (NYSE: PLD), manager of the PEPR portfolio.
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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 7920 2323 or 7920 2349
Ed Orlebar / Charlotte McMullen
orlebar@mcomgroup.com / mcmullen@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, a leading global provider of industrial distribution facilities. In September 2006, PEPR was listed on Euronext Amsterdam.
As at 30 June 2009, PEPR has a portfolio of 232 buildings, covering 4.9 million square metres in 11 European countries, with a market value of €3.0 billion. The portfolio has an occupancy level of 96.9% and an average of 3.6 years to the next lease break or 5.8 years to lease expiry.
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
