SAN FRANCISCO, July 6, 2017 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in logistics real estate, today
announced it completed 20 build-to-suit development projects in the
first half of 2017. These projects totaled more than 7 million
square feet with a total expected investment of $430 million.
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During the same period, the company also initiated 17
build-to-suit development starts representing more than 7 million
square feet at a total expected investment of $620 million. More than 75 percent of those
starts were signed with the company's multi-site customers, and
more than 90 percent will be located in Global Markets.
"The strategic advantage of our land bank, combined with our
extensive multi-site customer relationships, continued to drive
strong activity in the first half of 2017," said Michael S. Curless, chief investment officer,
Prologis. "This activity represents 50 percent of our year-to-date
build-to-suit development starts—a healthy mix at this point in the
cycle."
Prologis' First Half 2017 Build-to-Suit Completions
|
Customer
|
Industry
|
Market
|
Size
(SF)
|
1
|
Home Depot
|
Retail
|
Atlanta,
GA
|
1,039,680
|
2
|
Carrier
Corporation
|
HVAC
|
San Antonio,
TX
|
849,275
|
3
|
Sephora
|
Cosmetics
|
Memphis,
TN
|
716,080
|
4
|
Cerveceria
Cuauhtemoc
|
International
Beverage Distributor
|
Monterrey,
Mexico
|
662,500
|
5
|
Tesco
|
International
Grocery
|
Bratislava,
Slovakia
|
602,521
|
6
|
Bed, Bath and
Beyond
|
Retail
|
Las Vegas,
NV
|
525,200
|
7
|
Agata
Meble
|
Retail
|
Central
Poland
|
453,936
|
8
|
Wal-Mart
|
International
Retail
|
Las Vegas,
NV
|
342,243
|
9
|
HP Tonic
|
Retail
|
Prague, Czech
Republic
|
326,739
|
10
|
Action Nederland
BV
|
Retail
|
Paris,
France
|
259,970
|
11
|
DHL
|
Supply Chain
Management
|
Utrecht,
Netherlands
|
256,698
|
12
|
Hitachi Finenext
Transport
|
International
Logistics
|
Tokyo,
Japan
|
212,042
|
13
|
GEIS PL
|
Logistics
|
Central
Poland
|
194,859
|
14
|
G. Gühring
|
Manufacturer
|
Bremen,
Germany
|
186,431
|
15
|
DFS
|
Furniture
Manufacturer
|
East Midlands,
UK
|
153,353
|
16
|
Waberer's-Szemerey
|
Logistics
|
Budapest,
Hungary
|
150,296
|
17
|
Geis Global
Logistics
|
International
Logistics
|
Central
Poland
|
126,368
|
18
|
Orca
Systems
|
Manufacturer
|
Rhine-Ruhr,
Germany
|
100,438
|
19
|
Waberer's-Szemerey
|
Logistics
|
Budapest,
Hungary
|
75,433
|
20
|
Raben Group
BV
|
International
Logistics
|
Bratislava,
Slovakia
|
40,418
|
|
|
|
Total
|
7,274,480
|
Prologis' First Half 2017 Build-to-Suit Starts*
|
Customer
Profile
|
Market
|
Size
(SF)
|
1
|
Manufacturer
|
Dallas, TX
|
1,316,341
|
2
|
Food
|
San Francisco Bay
Area
|
708,080
|
3
|
International
E-Commerce
|
Tokyo,
Japan
|
681,619
|
4
|
Cosmetics
|
San Francisco Bay
Area
|
670,680
|
5
|
Retail
|
South
Netherlands
|
469,091
|
6
|
International
Logistics
|
Eindhoven,
Netherlands
|
435,249
|
7
|
E-Commerce
|
South
Netherlands
|
394,734
|
8
|
Transportation
|
Sendai,
Japan
|
387,610
|
9
|
International
Logistics
|
East Midlands,
UK
|
379,213
|
10
|
International
Logistics
|
Central
Germany
|
378,362
|
11
|
Apparel
|
Mexico City,
Mexico
|
367,556
|
12
|
Food and
Beverage
|
East
Midlands/UK
|
325,501
|
13
|
International
Logistics
|
Northern
Italy
|
317,223
|
14
|
International
Logistics
|
Barcelona,
Spain
|
292,240
|
15
|
Consumer
Electronics
|
Paris,
France
|
271,853
|
16
|
Textiles
|
Bratislava,
Slovakia
|
174,365
|
17
|
Packaging, Paper and
Plastics
|
Bratislava,
Slovakia
|
75,993
|
|
|
Total
|
7,645,710
|
*Due to confidentiality, Prologis often does not disclose
customer names at this stage of development.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in
logistics real estate with a focus on high-barrier, high-growth
markets. As of March 31, 2017, the
company owned or had investments in, on a wholly owned basis or
through co-investment ventures, properties and development projects
expected to total approximately 678 million square feet (63 million
square meters) in 19 countries. Prologis leases modern distribution
facilities to a diverse base of approximately 5,200 customers
across two major categories: business-to-business and retail/online
fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this
document that are not historical facts are forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements are based on
current expectations, estimates and projections about the industry
and markets in which we operate as well as management's beliefs and
assumptions. Such statements involve uncertainties that could
significantly impact our financial results. Words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," including variations of such words and similar
expressions are intended to identify such forward-looking
statements, which generally are not historical in nature. All
statements that address operating performance, events or
developments that we expect or anticipate will occur in the future
— including statements relating to rent and occupancy growth,
development activity, contribution and disposition activity,
general conditions in the geographic areas where we operate, our
debt, capital structure and financial position, our ability to form
new co-investment ventures and the availability of capital in
existing or new co-investment ventures — are forward-looking
statements. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions that are difficult to predict. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. Some of the factors that may
affect outcomes and results include, but are not limited to: (i)
national, international, regional and local economic and political
climates, (ii) changes in financial markets, interest rates and
foreign currency exchange rates, (iii) increased or unanticipated
competition for our properties, (iv) risks associated with
acquisitions, dispositions and development of properties, (v)
maintenance of real estate investment trust status, tax structuring
and changes in income tax rates (vi) availability of financing and
capital, the levels of debt that we maintain and our credit
ratings, (vii) risks related to our investments in our
co-investment ventures, including our ability to establish new
co-investment ventures, (viii) risks of doing business
internationally, including currency risks, (ix) environmental
uncertainties, including risks of natural disasters, and (x) those
additional factors discussed in reports filed with the Securities
and Exchange Commission by us under the heading "Risk Factors." We
undertake no duty to update any forward-looking statements
appearing in this document, except as may be required by law.
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SOURCE Prologis, Inc.