Prologis Announces Build-to-Suit for High-End Fashion Brand
PARIS, June 3, 2019
Prologis Inc., the global leader in logistics real estate, today announced that it has signed a build-to-suit agreement with the SMCP Group, a high-end fashion brand that owns the French labels Sandro, Maje, Claudie Pierlot and Sandro Homme. By the end of the year, SMCP will occupy 30,000 square meters of the 37,000 square meter facility at Prologis Park Marly.
SMCP Group has leased a 24,000 square meter logistics warehouse and international distribution platform at Prologis Park Vémars since 2015. The new facility at Prologis Park Marly will centralize a number of SMCP’s logistics operations and enable it to respond to significant growth driven by new points of sale and the flourishing online retail environment.
The choice of logistics real estate provider for this project was clear-cut. SMCP had enjoyed a good working relationship with Prologis since 2015 and had recently been inspired further by visiting a 25,000 square meter facility at Prologis Park Marly—the first logistics park ever to receive the "Excellent" IBPC (International Biodiversity and Property Council) BiodiverCity rating.
Employee well-being is a key consideration for Prologis and its customers. In fact, it determined both the internal design of this building, as well as its external environment. Prologis Marly DC1 will be accredited BREEAM ′′Very Good", a testament to the extremely high environmental standards applied to the design, construction and operation of the facility.
As SMCP ventured into their first BTS project, their confidence in the support that Prologis provides was an important factor. The Marly site, like the Vémars site, will be fully automated. ′′We are able to deliver on SMCP’s specifications. Thanks to our global scale, we have the expertise to advise and reassure throughout the entire process, not only during design, but also through planning and on IPCE regulation," said Cécile Tricault, country manager, Prologis France. The SMCP Marly-la-Ville site will be completed by the end of 2019 and should be operational in early 2020.
BNP Paribas Real Estate acted as counsel for both parties.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high growth markets. As of March 31, 2019, 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 72 million square meters in 19 countries. Prologis leases modern distribution facilities to more than 5,100 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 51, Email: [email protected]
Source RP, Michelle Kamar, Tel: +33 1 53 53 36 84, Email: [email protected]