SAN FRANCISCO, Oct. 29, 2014 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in industrial real estate, today announced it has signed a 420,000 square foot build-to-suit agreement with Eddie Stobart, a leading logistics operator in the U.K.
The rail-connected facility will be located at the second phase of Daventry International Rail Freight Terminal (DIRFT II) and has been designed to achieve BREEAM 'excellent' accreditation. DIRFT II's central location and proximity to major motorways provides direct access to over 98 percent of the British population.
"We already occupy a number of buildings at DIRFT as it is an excellent location for many of our customers," said William Stobart, CEO, Eddie Stobart. "This new building will further our rail capability and is a significant investment in the continuing success of our business."
"We are pleased to welcome Eddie Stobart as a new Prologis customer," said Andrew Griffiths, managing director, Prologis U.K. "DIRFT II is now 100-percent leased, but with our ongoing investment in DIRFT III, we continue to offer our customers the advantages of rail-served distribution facilities."
Prologis owns and manages approximately 23 million square feet of logistics and distribution space in the U.K. as of September 30, 2014.
Prologis, Inc., is the global leader in industrial real estate. As of September 30, 2014, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 585 million square feet (54 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including manufacturers, retailers, transportation companies, and third-party logistics providers.
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SOURCE Prologis, Inc.