SAN FRANCISCO, July 10, 2018 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in logistics real estate, today
announced it completed 16 build-to-suit development projects in the
first half of 2018 totaling more than 6.2 million square feet with
a total expected investment (TEI) of approximately $475 million on a Prologis share basis.
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During the same period, the company initiated 14 build-to-suit
development starts representing over 4.7 million square feet with a
TEI of approximately $450 million on
a Prologis share basis. Consistent with first-half completions, the
majority of these starts were signed with multi-site customers and
are located in urban markets that are positioned for Last Touch®
operations.
"Our multi-site customers, many of whom are focused on
e-commerce, continue to drive strong results in our build-to-suit
business," said Michael S. Curless,
chief investment officer, Prologis. "Our development activity is
focused in major population centers because our customers need
facilities close to their end consumers."
Prologis' First Half 2018 Build-to-Suit Completions
|
Customer
|
Industry
|
Market
|
Size
(SF)
|
1
|
Amazon
|
E-commerce
(International)
|
Mexico City,
Mexico
|
996,897
|
2
|
Lindt
|
Manufacturing
(International)
|
Tracy, CA
|
708,080
|
3
|
Zinus Inc.
|
Retail
(Domestic)
|
Tracy, CA
|
664,000
|
4
|
CULTURA
|
Retail
(Domestic)
|
Paris,
France
|
609,808
|
5
|
Home Depot
|
Retail
(Regional)
|
Cranbury,
NJ
|
504,428
|
6
|
Logista
Italia
|
Logistics
(Regional)
|
Bologna,
Italy
|
435,712
|
7
|
Yusen
Logistics
|
Logistics
(International)
|
Wellingborough,
United Kingdom
|
379,213
|
8
|
Sainsburys
|
Retail
(Domestic)
|
Northampton, United
Kingdom
|
325,502
|
9
|
Brivio&Vigano
|
Logistics
(International)
|
Milan,
Italy
|
317,223
|
10
|
ID
Logistics
|
Logistics
(International)
|
Barcelona,
Spain
|
284,630
|
11
|
Pantos
Logistics
|
Logistics
(International)
|
Tilburg,
Netherlands
|
277,741
|
12
|
EXERTIS
|
Logistics
(International)
|
Paris,
France
|
271,853
|
13
|
VAFO PRAHA
|
Manufacturing
(International)
|
Prague, Czech
Republic
|
255,275
|
14
|
Prime
Cargo
|
Logistics
(International)
|
Szczecin,
Poland
|
98,920
|
15
|
RTP
Company
|
Manufacturing
(International)
|
Wroclaw,
Poland
|
89,696
|
16
|
JAS
Forwarding
|
Logistics
(International)
|
Chicago,
IL
|
80,636
|
|
|
|
Total
|
6,299,614
|
|
|
|
|
|
|
Prologis' First Half 2018 Build-to-Suit Starts*
|
Customer
Profile
|
Market
|
Size
(SF)
|
1
|
Retail
(International)
|
Muggensturm,
Germany
|
1,086,606
|
2
|
E-commerce
(International)
|
Tsukuba,
Japan
|
679,455
|
3
|
Construction
(International)
|
Central Valley,
CA
|
567,870
|
4
|
E-commerce
(International)
|
Mexico City,
Mexico
|
558,507
|
5
|
Automotive
(International)
|
Birmingham,
UK
|
414,350
|
6
|
Logistics
(International)
|
Douvrin,
France
|
342,691
|
7
|
Logistics
(Domestic)
|
Douvrin,
France
|
283,263
|
8
|
E-commerce
(International)
|
Dulles, VA
|
182,010
|
9
|
E-commerce
(International)
|
Dulles, VA
|
148,777
|
10
|
E-commerce
(International)
|
Dulles, VA
|
148,777
|
11
|
Retail
(Domestic)
|
Piotrkow,
Poland
|
111,600
|
12
|
Logistics
(International)
|
Szczecin,
Poland
|
98,920
|
13
|
Retail
(International)
|
Hemel Hempstead,
United Kingdom
|
80,000
|
14
|
Logistics
(International)
|
Szczecin,
Poland
|
28,105
|
|
|
Total
|
4,730,931
|
*Due to confidentiality, Prologis 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, 2018, 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 683 million square feet (63 million
square meters) in 19 countries. Prologis leases modern distribution
facilities to a diverse base of approximately 5,000 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