PARIS (26 May 2015) - Prologis, Inc., the global leader in industrial real estate, today announced it has signed a 17,000 square metre build-to-suit (BTS) agreement in Le Havre with Cedilec (Central operating Imports of Edouard Leclerc), a subsidiary of Siplec import company, a subsidiary of Mouvement E. Leclerc.
Located at Prologis Park Le Hode, the facility will be divided into three units and is expected to be completed in the first quarter of 2016. Cedilec has also agreed to renew the lease on its existing 45 000 square metres of distribution space at the park. The company will occupy a total of 62,000 square metres at the park.
The new Cedilec BTS facility will be the first phase of a 74, 000 square metre building, Le Havre DC7, which is slated for a a BREEAM “Good” rating.
Jacky Targat, Director of Cedilec, said, “We wanted to expand our logistics space in Le Havre with a modern and flexible building able to support our growth and answer our needs. Prologis, our partner since 2006, proposed the ideal solution, offering us the possibility of an extension with shared services.”
Prologis Park Le Hode at Le Havre is located along the A131 motorway, which links Le Havre and Paris within the industrial zone of Le Havre and near the Normandy Bridge. It currently comprises 180,000 square metres of Class-A logistics space.
Reflecting the growth of Le Havre’s port activity, Prologis Park Le Hode is part of initiatives introduced by the Grand Port Maritime to enhance visitor and handling facilities while improving port governance. In 2014, the Port du Havre was nominated “Best European Port” for the fourth consecutive year by Cargonews Asia. During this time, Prologis’ occupancy rate in the Le Havre logistics market grew from 75 percent to 100 percent today.
François Rispe, regional head, Prologis Southern Europe, said, ”We are delighted to extend our relationship with Cedilec (Logistics tool of LECLERC motion), in Le Havre. Cedilec’s decision to renew its existing lease and expand into more space demonstrates our ability to support the growth of our customers. These agreements reflect the importance of the Le Havre market and the recovery of its port activity, which is a positive sign of an upturn in the French economy in general.”
About Prologis
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 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 64 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 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.
PRESS CONTACTS
Prologis : Nathalie Triolet, Tél : +33 1 48 14 54 51, [email protected], Paris
Agence Dehais : Michelle Kamar, Tél : +33 1 53 53 36 84, [email protected], Paris