ProLogis Announces 4.0 Million Square Feet of Fourth Quarter Global Development Portfolio Leasing Activity
January 12 2010 - 7:00AM
PR Newswire (US)
- Global Static Development Portfolio Now 68.2 Percent Leased -
DENVER, Jan. 12 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a
leading global provider of distribution facilities, announced today
that its static global development portfolio was 68.2 percent
leased as of year-end 2009. "Roughly one year ago, we set a goal to
achieve a leased percentage of 60 - 70 percent by year-end 2009 for
our development portfolio properties in place as of the end of
2008, or what we have called our static portfolio," said Walt
Rakowich, chief executive officer. "We are pleased to have reached
the upper end of that goal and are encouraged by continued leasing
activity and customer demand. At a time when little development is
coming online, ProLogis' best-in-class development inventory
provides immediate solutions for our customers' distribution space
needs." ProLogis signed 56 leases in its static development
portfolio during the fourth quarter, which increased leased space
in this portfolio by approximately 4.0 million square feet (372,000
square meters) in locations worldwide. Recent development portfolio
leasing transactions included: -- Asia: A new, 381,000-square-foot
(35,400-square-meter) lease agreement in Japan with Hitachi
Transport System, Ltd., a leading third-party logistics provider.
Hitachi Transport System will operate the space on behalf of its
customer at ProLogis' newly developed facility in the Tokyo market.
New development leases in Asia during the fourth quarter totaled
1,130,000 square feet (105,000 square meters). -- Europe: A new,
237,000-square-foot (22,000-square-meter) lease agreement in the
United Kingdom with Biffa, a leading integrated waste management
business. Biffa will occupy the space in Building Three at ProLogis
Park Midpoint, located in the West Midlands, and will use it as a
materials recycling facility for non-hazardous recyclable
materials. New development leases in Europe during the fourth
quarter totaled 1,937,000 square feet (180,000 square meters). --
North America: A new, 255,000-square-foot (23,700-square-meter)
lease agreement signed in Atlanta with Viega LLC, a manufacturer of
plumbing, heating, gas and potable water products. Occupying space
at ProLogis Park Greenwood, the customer will use the space as a
new distribution hub to serve its customers in the southeastern
United States. New development leases in North America during the
fourth quarter totaled 877,300 square feet (81,500 square meters).
About ProLogis ProLogis is a leading global provider of
distribution facilities, with more than 475 million square feet of
industrial space (44 million square meters) in markets across North
America, Europe and Asia. The company leases its industrial
facilities to more than 4,500 customers, including manufacturers,
retailers, transportation companies, third-party logistics
providers and other enterprises with large-scale distribution
needs. For additional information about the company, go to
http://www.prologis.com/. DATASOURCE: ProLogis CONTACT: media, Mo
Sheahan, +1-303-567-5434, , or investors, Melissa Marsden,
+1-303-567-5622, , both of ProLogis; or Suzanne Dawson of Linden
Alschuler & Kaplan, Inc., +1-212-329-1420, , for ProLogis Web
Site: http://www.prologis.com/
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