ProLogis News
ProLogis Leases 277,000 Square Feet Near the Port of Le Havre in France
PARIS, July 28 PRNewswire-FirstCall — ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 277,000 square feet (25,800 square meters) of space near the Port of Le Havre, France's largest container port by volume, to Cedilec, a leading French provider of third-party logistics services for the food retail industry.
Cedilec has leased 100 percent of the space in a recently completed facility at ProLogis Park du Hode, a 1.6 million-square-foot (152,000-square- meter) rail-served distribution park being developed along France's A13/131 highways, which connect Le Havre to Paris, 7 kilometers from the Le Havre port terminal. Cedilec will operate the space as a break-bulk facility, distributing product on behalf of Leclerc Supermarkets Group to key markets throughout France.
This is ProLogis' second agreement in Le Havre with Cedilec, which also leases 206,000 square feet (19,200 square meters) of space in a facility at the same park.
"Demand for modern logistics space in the Le Havre market continues to grow due to the location's superior access to France's largest international seaport as well as domestic rail service," said Ranald Hahn, managing director for ProLogis in southern Europe. "Container traffic at the Port of Le Havre has grown significantly over the last 24 months, reaching more than 2.4 million twenty-foot equivalent units at the end of 2007. Combined with the increasing number of major global customers seeking to establish operations in the region, all indications are that Le Havre is well on its way to becoming indispensable in our customer's European logistics platforms. We are pleased to once again be working with Cedilec, and expect to see continued growth here in the short to medium term."
"We selected ProLogis primarily for their ability to provide modern, strategically-located facilities with access to multiple and major modes of transportation," said Jacky Targat, manager of Cedilec's facilities in Le Havre.
ProLogis Park du Hode is a multimodal distribution park, providing convenient access to major road, rail and sea transit networks. The park, which currently contains six facilities, will comprise eight facilities totaling more than 2.3 million square feet (220,000 square meters) at full build-out. Other ProLogis customers at the park include Altadis, Gefco, Schenker and XP Log.
ProLogis currently operates 26 million square feet (2.4 million square meters) of distribution space in France, concentrated in major distributions hubs throughout the country, including Chanteloup, Clesud, Le Havre, Lyon, Marseille, Mer, Orleans and Vatry.
About ProLogis
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.
SOURCE ProLogis
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