ProLogis European Properties completes over 123,000 square metres of leasing activity in Southern Europe
30/11/2010
ProLogis European Properties (Euronext: PEPR), one of
Europe’s largest owners of modern distribution facilities,
announced today that it has completed four new lease agreements and
three lease renewals, totalling 123,500 square metres of
distribution space, in France and Italy.
Four new lease agreements, totalling 41,200 square metres, relate
to previously vacant space at ProLogis Park Bologna in Italy. The
new lease agreements will each run for six-years and two months.
Polyedra, part of the Paperlinx group and one of the foremost
Italian manufacturers and distributors of paper products, will
occupy 16,900 square metres; Assa Abloy, a wholly-owned subsidiary
of Assa Abloy AB, the global leader in door opening and access
control solutions, will occupy 8,200 square metres as it
consolidates operations from two locations in Rome and Bologna to
this single site; Fintyre, a leading Italian tyre distribution
company, has signed for 7,900 square metres. Finally, ND Logistics
will conduct the logistics activities for Limoni, an important
manufacturer of cosmetics and perfumes, from 8,200 square metres,
with another 8,000 square metres under option.
Also in Italy, NYK Logistics has signed a three-year renewal for
33,500 square metres of space at ProLogis Park Romentino, from
where it manages the logistics activities for world leading sports
lifestyle company, Puma.
In France, ITM Logistique Alimentaire International (part of the
leading French supermarket chain Intermarché) has renewed
two leases for 48,800 square metres of space at ProLogis Park
Clesud close to Marseille in the south of France. Both leases will
run for nine years from April 2011 to March 2020.
Intermarché, which has occupied both facilities at Clesud
since 2001 and 2002 respectively, will continue to use the
facilities for the distribution of products in the south east of
France.
All seven leases were agreed at market rents, are subject to
standard lease indexation, and on average have 4.2 years to next
lease break or 6.9 years to lease expiry.
Simon Nelson, head of asset management of PEPR
said: “As we close out a year of high leasing activity, we
are pleased to maintain strong levels of activity across Southern
Europe. The Italian deals in particular show the generic strength
and quality of our buildings and leasing platform, as our Bologna
building of nearly 50,000 square metres is now fully leased or
under option within four months of the previous single occupier
leaving the facility.
“We look forward to working with Assa Abloy, Fintyre and
Polyedra, all of which are new customers for PEPR. We are
furthermore delighted to have extended the leases with NYK
Logistics in Italy and with Intermarché in France,
demonstrating our strong customer commitment and their confidence
in our high-quality product and services.”
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
Jennifer Crooke
+44 207 518 8708
jcrooke@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 30 September 2010, PEPR has a portfolio of 232 buildings,
covering 4.9 million square metres in 11 European countries, with
an estimated market value of €2.8 billion. The portfolio has
an occupancy level of 92.7% and an average of 3.3 years to the next
lease break or 5.4 years to lease expiry.
2011 Annual Report
