- The new development highlights Prologis’ expertise in brownfield site regeneration
- Prologis launches EEGLE, the first building management system of its kind in the industrial real estate sector
Paris (20 September 2017) Prologis Inc, the global leader in logistics real estate, today welcomed Line Magne, Mayor of Moissy-Cramayel and Vice-President of Communauté d’agglomération GRAND PARIS SUD – Seine Essonne Sénart and Laurent Geraudie, Logistics Director of Cultura to a groundbreaking event for the 56 000 square metre building it is developing for Cultura, a specialist retailer in the creative and cultural sector, at
Prologis Park Moissy 2 Les Chevrons.
The new building will allow Cultura to rationalize its distribution operations at a major logistics hub in the Ile-de-France region and expand its e-commerce activities. The building is scheduled to be completed in early 2018.
At Prologis Park Moissy 2 Les Chevrons, which was acquired in 2012, Prologis has regenerated the former PSA Peugeot manufacturing site at Moissy-Cramayel, improving its biodiversity and attracting new employers to the local area. The redevelopment of Moissy 2 builds upon Prologis’ success in regenerating the former Michelin site at Poitiers and the former Mercedes site at Mitry-Mory.
The groundbreaking also marked the official launch of EEGLE, a digital interface developed by Prologis and Resolving. Enabling customers to manage their logistics buildings remotely, EEGLE helps users optimize a building’s operations, reduce its running costs and minimize its environmental impact. EEGLE is the first digital tool of its kind in the industrial real estate sector. It is based on a 3D model of the building using the BIM (Building Information Modelling) system. The digital interface is connected to the building by sensors and allows users to monitor energy consumption, manage maintenance deadlines and detect any operational malfunction.
Entrepôts XXL France, subsidiary of Tostain & Laffineur, advised both parties in the Cultura project.
Prologis contracted with IDEC for the building construction.
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.