Opening of The First Phase of Build-to-Suit Facility for Action at Prologis Park Moissy 2
PARIS (10 June 2016) – Prologis Inc., the global leader in logistics real estate, and Action, the Dutch discount retailer, today announced the opening of the retailer’s first French logistics platform and its first distribution centre outside the Netherlands.
The announcement was held in the presence of Line Magne, Mayor of Moissy-Cramayel; Sander Van Der Laan, CEO of Action; Eric Hémar, President of ID Logistics; and François Rispe, Regional Head, Prologis Europe.
Prologis also announced the start of the second phase of development of Action’s build-to-suit facility, which at completion will total more than 71,000 square metres and be divided into 12 units.
Action’s first French logistics platform and first distribution centre outside the Netherlands Action sells more than 5,000 products in its 579 stores. Its model is based on the frequent renewing of its stock, which includes household products, office products, cosmetics, food and toys. Action, which now operates primarily in Germany, Belgium and the Netherlands, is accelerating its openings in France and plans to pursue a worldwide expansion.
The building will be Action’s French logistics hub; it will be used for the storage, management and distribution of products to some 60 stores in France. Léandre Boulez, Diagma’s associate, acted as counsel for Action.
First modern facility at Prologis Park Moissy 2 The facility is designed to receive a BREEAM “Good” accreditation in October 2016. Located at the former PSA site, Prologis Park Moissy 2 has been regenerated by Prologis. As a member of CIBI (Conseil International Biodiversité et Immobilier), Prologis has adopted a BiodiverCity® approach throughout the park introducing best practices for biodiversity.
On completion, a 71,000 square meter building Action today occupies 42,000 square metres of logistics space at Prologis Park Moissy 2. The second phase of development, which will provide an additional 29,000 square metres divided in four units, is expected to be delivered in the summer of 2017.
Vincent Bröring, Supply Chain Director, Action, said: “We are proud to open our first French logistics platform with an ideal location and features to support us in our growth. We thank Prologis for having delivered this first phase within a very short deadline.”
Cécile Tricault, country manager, Prologis France, said: “This opening is an opportunity for us to celebrate our customer, Action, whose trust in us is a direct reflection of the quality of our park, the professionalism and expertise of our teams and Prologis’ ability to respond to specific demands in a tight time frame. Today is also an opportunity to celebrate our first modern facility at Moissy 2. It is an indication of Prologis’ strong position in the Sud-Francilien market that we are able to deliver a state-of-the art building to meet the requirements of ecommerce companies, large retailers, large manufacturers and major logistics providers.”
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2016, 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 62 million square meters in 20 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.
The statements in this release 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 Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” 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 and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt 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 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 (“REIT”) status and tax structuring, (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 and funds, including our ability to establish new co-investment ventures and funds, (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 Prologis under the heading “Risk Factors.” Prologis undertakes no duty to update any forward-looking statements appearing in this release.
Prologis: Nathalie Triolet, Tel: +33 1 48 14 54 01, Email: [email protected]
Agence Dehais: Michelle Kamar, Tel: +33 1 47 23 93 93, Email: [email protected]