Prologis to Deliver Two New Facilitiesat Prologis Park Prague D1 – 100-Percent Pre-leased
PRAGUE (30 March, 2016) — Prologis, Inc., the global leader in industrial real estate, today announced that it will expand Prologis Park Prague D1 East by developing two additional buildings, DC8 and DC9, totalling 10,360 square metres, for which two pre-leasing agreements have been signed prior to construction.
The transactions include:
- 5,160 square metres in DC8 with Logflex, a Czech third-party logistics provider. 108 agency facilitated this transaction.
- 5,200 square metres in DC9 with Nagel-Group, a European food logistics provider specializing in temperature controlled goods. Nagel simultaneously extended its existing lease for 13,700 square metres in DC2 at Prologis Park Prague D1 West.
Both facilities are scheduled for completion in the third quarter of 2016.
“We are thrilled to have acquired additional land in such a sought-after area with a 100-percent occupancy rate,” said Martin Polák, senior vice president and regional head, Prologis Central and Eastern Europe. “This planned expansion is fully in line with our strategy of providing our customers with the best locations for their businesses. The D1 zone offers an ideal platform for companies operating throughout the region, which explains the consistently strong demand we see here.”
Prologis Park Prague D1 East is located approximately 11 kilometres southeast of Prague at the Říčany/Jesenice junction and currently consists of seven buildings that total 130,000 square metres of state-of-the-art distribution space. Its proximity to the major D1 motorway offers excellent access to the Prague city center, as well as numerous domestic and foreign trade routes.
Prologis is one of the leading providers of distribution facilities in the Czech Republic with more than 950,000 square metres of logistics and industrial space (as of December 31, 2015).
Prologis, Inc. is the global leader in industrial real estate. As of September 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 670 million square feet (62 million square meters) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“REIT”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading “Risk Factors.” Prologis undertakes no duty to update any forward-looking statements appearing in this document.
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