SAN FRANCISCO, March 6, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, today announced it has signed more than one million square feet (approximately 94,300 square meters) with Geodis, a leading European logistics firm in France. The long-term leases comprise renewals totaling approximately 749,000 square feet (69,600 square meters) on two buildings at Prologis Park Evry in Evry Lisses, south of Paris, France, together with a new lease for an expansion of approximately 266,000 square feet (24,700 square meters) to one of the buildings. The expansion is expected to be delivered in 2013.
"The development of Geodis' large state-of-the-art facility is indicative of the trend toward broader regional distribution networks, which in turn is driving demand for large modern buildings," said Philip Dunne, managing director and president, Prologis Europe. "Importantly, this agreement further strengthens our relationship with one of our top ten global customers and signals Geodis' confidence in our ability to provide innovative logistics solutions."
"This long-term agreement will enable Geodis to strengthen our distribution network south of Paris and offer our customers innovative and effective solutions in the FMCG (Fast Moving Consumer Goods) retail and high-tech sectors," said Jean-Louis Demeulenaere, Geodis' managing director. "The expanded facility will modernize and increase our distribution capacity at Evry, which we believe is destined to become a strategic hub within the greater Paris region of Ile-de-France."
As of December 31, 2011, Prologis' platform of operating and development properties in France totaled approximately 35.3 million square feet (3.28 million square meters).
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 December 31, 2011, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 600 million square feet (55.7 million square meters) 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.