Prologis Leases 139,000 Square Feet in UK Development

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Dec 01, 2011, 08:13 ET

SAN FRANCISCO, Dec. 1, 2011 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced that it has leased Prologis Park Pineham DC139, a 139,000-square-foot (12,900-square-meter) facility in the United Kingdom, to Dalepak Limited, a third-party logistics provider. With this transaction the entire distribution park, located between Birmingham and London in Northampton, is now 100 percent leased.

Providing a full range of logistics services for customers across the UK, Dalepak now occupies a total of 340,000 square feet in Northampton, and DC139 will become the company's new headquarters. The facility has earned BREEAM "Excellent" accreditation and an Energy Performance Certificate rating of "B" (CO2 Index 27).

"The decision to move into this new Prologis building is a tremendous step forward for our business," said Gary White, Dalepak's joint managing director. "We already have a skilled workforce and highly sophisticated technology. Now we have the building to match."

"By understanding Dalepak's requirements, we were able to provide a new, energy efficient facility that will be an ideal fit for their headquarters," said Phillip Dunne, president of Prologis Europe. "With this agreement, only one building now remains available in our entire UK development portfolio."

As of September 30, 2011, Prologis had approximately 21.4 million square feet (2.0 million square meters) in operating properties and 457,500 square feet (42,500 square meters) in projects under development in the UK.

About Prologis

Prologis, Inc. is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of September 30, 2011, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 55.7 million square meters (600 million square feet) in 22 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.

SOURCE Prologis, Inc.