ProLogis Leases Almost 1 Million Square Feet to Deutsche Post Companies
ProLogis, a leading global provider of distribution facilities and services, announced today that it has leased almost 1 million square feet of space (91,400 square meters) in Canada and The Netherlands to subsidiaries of the Deutsche Post World Net group.
In Canada, third-party logistics services provider Exel has leased 650,000 square feet (60,400 square meters) from ProLogis for a new distribution center outside Toronto. In The Netherlands, DHL has pre-leased a 333,500-square-foot (31,000-square-meter) facility ProLogis will develop in Tilburg, approximately 50 kilometers southeast of Rotterdam.
ProLogis
"We're very pleased to announce these new agreements, and to be further expanding our relationship with Exel and DHL," said Walt Rakowich, president and chief operating officer of ProLogis. "Today, the two companies combined now lease more than 8 million square feet from ProLogis in more than 70 locations around the world, making the Deutsche Post World Net group our largest single customer. The continued growth of this strategic relationship underscores one of the central aspects of the ProLogis business plan: creating value through customer care and by building deep, long-standing ties with the companies we serve. We look forward to working with Exel and DHL at each of these new locations, and once again serving as their distribution facilities provider."
Exel will establish a new distribution center at ProLogis Park Mississauga Gateway Centre, a 100-acre industrial park being developed in the Toronto suburb of Mississauga. The park, located near Toronto's Pearson International Airport, can accommodate up to 1.8 million square feet (167,300 square meters) at full build-out. The first phase of development at the park is now 70 percent pre-leased, and ProLogis plans to begin construction of Phase II over the next few months.
"Our new facility at Mississauga Gateway Centre will enable us to continue delivering solutions that meet the increasingly competitive supply chain requirements of our regional and global customers," said Jeff Pountney, senior director of leasing, Americas, for Exel. "We look forward to working with ProLogis and to further extending Exel's position as the primary provider of third-party logistics services to the Canadian market."
Meanwhile, DHL will occupy a new facility ProLogis will develop at the Vossenberg-West industrial park in Tilburg, which offers easy access not only to the Rotterdam port complex but to Amsterdam, Antwerp and markets throughout western Europe. DHL will use the building to serve customer Seiko Epson, a leading manufacturer of computers, peripherals and other electronics products. DHL also lease two other facilities from ProLogis at the park, which combined total more than 600,000 square feet (56,000 square meters) of industrial space.
The Deutsche Post World Net group of companies is one of the world's largest providers of logistics, mail and transportation services, as well as financial services. Headquartered in Bonn, Germany, the company's subsidiaries include DHL, Exel, Deutsche Post and Post Bank. The company operates in more than 220 countries around the world with a workforce of over 500,000 employees. In 2005, the company reported revenues of over 44 billion euros.
About ProLogis
ProLogis is a leading provider of distribution facilities and services with 404.3 million square feet (37.6 million square meters) in more than 2,400 properties owned, managed and under development in 81 markets in North America, Europe and Asia as of June 30, 2006. We continue to expand the industry's first and largest global network of distribution facilities with the objective of building shareholder value. We expect to achieve this through the ProLogis Operating System(R) and our commitment to provide exceptional facilities and services to meet our customers' expansion and reconfiguration needs.
CONTACT: Media, Arthur Hodges, +1-303-567-5667, [email protected], or
Jessica Neal, +1-303-567-5137, [email protected], or Investors, Melissa
Marsden, +1-303-567-5622, [email protected], all of ProLogis; or Suzanne
Dawson of Linden Alschuler & Kaplan, Inc., +1-212-329-1420, [email protected],
for ProLogis
Web site: http://www.prologis.com/
