Prologis Starts 42,000 Square Metre Development in Central Poland
WARSAW (21 June 2016) – Prologis, Inc., the global leader in logistics real estate, today announced that it has signed a 42,170 square metre build-to-suit (BTS) agreement with Agata at Prologis Park Piotrków II in Poland. Real estate agency CBRE facilitated the transaction.
Agata is one of the leading and longest-operating Polish distributors of furniture, interior furnishings, decorative items, lamps and textiles. It currently operates 19 large retail outlets in all major Polish cities and two central warehouses.
"Our desire to optimise our operational costs and processes, resulting from the dynamic growth of our company, has led us to establish a single national distribution centre in Central Poland, located at Prologis Park Piotrków II" said Grzegorz Ćwik, vice president, Agata. "We selected Prologis' offer because we decided to entrust this important part of our business to a proven and reliable partner. This agreement strengthens our positive co-operation, which dates back to 2010 when we signed our first lease agreement for distribution space at Prologis Park Wrocław."
"We are pleased that Agata has chosen Prologis Park Piotrków II as its location in Central Poland. According to the Logistics Real Estate Network Expansion report that we developed with Eyefortransport, Central Poland is the most popular logistics destination in Central and Eastern Europe," said Paweł Sapek, senior vice president and country manager, Prologis Poland. "The agreement confirms our expertise and our successful cooperation with Agata. Furthermore, we are able to offer attractively located land with all the necessary building permits. As a result, we can provide our customer with a build-to-suit facility in the shortest time possible."
“The location of Piotrków Trybunalski and the customized solution for the tenant were critical to choosing Prologis as a partner for this project. We congratulate both partners for this transaction and are proud that we were able contribute to it,” says Małgorzata Czepel, Industrial & Logistics Department, CBRE.
Prologis Park Piotrków II currently comprises a single 17,500 square metre building. It is located on the outskirts of Piotrków, 40 kilometres from Łódź, the capital of the Central Poland region. The park is located at the intersection of two main transport routes: the A1/E75 motorway, linking northern and southern Poland, and the 8/E67 express road, linking Prague, the Silesian agglomeration and Warsaw with Białystok and Vilnius.
With its active engagement in four CEE countries and a portfolio totalling 4.3 million square metres, Prologis is the leading provider of distribution facilities in Central and Eastern Europe (as of March 31, 2016).
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.
Vice President Marketing & Communications
Prologis Central & Eastern Europe
Direct: +48 22 218 36 56
Email: [email protected]&
PR Director, ConTrust Communication
Direct: + 48 605 073 929
E-mail: [email protected]