ProLogis European Properties leases more than 77,000 square metres in The Netherlands

13/04/2010

ProLogis European Properties (Euronext: PEPR), one of Europe’s largest owners of modern warehouse distribution facilities, today announces that it has signed two lease agreements totalling 77,500 square metres of distribution space in The Netherlands.  

The first lease, with Samsung Electronic Europe Logistics at ProLogis Park Tilburg in the Noord-Brabant province, covers 56,700 square metres and runs for a new fixed term of seven years from January 2010. Samsung was already operating from this location via third party logistics supplier DHL, which leased the building from August 2002.

The second lease has been signed with a global leader in supply chain services for 20,800 square metres, which were previously vacant, at ProLogis Park Venlo in the Limburg province. The company already occupied c. 20,000 square metres at ProLogis Park Venlo. The new agreement, which will run for a five year period with no lease breaks, will consequently double its amount of space there.

Mr Wilco Koers, senior logistics manager for Samsung Electronic Europe Logistics commented: “We are delighted to have now signed a direct lease agreement with PEPR. Having provided us with an outstanding level of service over a number of years, it made sense for us to work directly with PEPR when we reviewed our logistics process. In addition to the high quality of the PEPR buildings and the prime location of ProLogis Park Tilburg, we were impressed with the local knowledge and advice that the team was able to provide in helping us to find the most efficient supply chain solution.”

Simon Nelson, head of asset management of PEPR said: “In the context of an occupational market that we expect to remain challenging in 2010, we are pleased that two such important customers have chosen to extend and expand their partnerships with PEPR. Although our retention rates are down on last year’s record level, these agreements are testament to the strength of our existing relationships and the quality of our well-located properties throughout the Dutch and pan-European market place.”

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@prologis.com

Media
M:Communications
Ed Orlebar / Charlotte McMullen
+44 20 7920 2323 or 7920 2349
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 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.
 

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