FOR IMMEDIATE RELEASE
- First speculative development in France by Prologis since 2011
- More than 50% of new building already leased
- On completion of third phase whole development will total more than 75 000 square metres
Paris (12 May 2016) – Prologis Inc., the global leader in logistics real estate, today announced the delivery of a new 35,000 square metre building at its Parc du Hode in Le Havre.
This facility, which was developed speculatively, is the second phase of development at Le Havre and follows the delivery of a 17,000 square metre built-to-suit building for Cedilec, a subsidiary of Mouvement Leclerc.
Split into six units of around 5,600 square metres each, the facility was already approximately 50 percent leased to two major logistics companies before delivery. Equipped with 37 dock doors, NFPA sprinklers and TS lighting, it provides energy metering unit per unit and occupant per occupant. It will receive a BREEAM “Good” sustainability rating, which will make it one of the first buildings to benefit from this certification in the local market.
On completion, the full development will provide the largest amount of Class-A logistics space in the port of Le Havre’s industrial zone, with more than 75,000 square metres.
Cécile Tricault, Country Manager France, Prologis, declared: “We are proud to support the development of the port of Le Havre and to continue supporting existing customers and attracting new customers, because of the suitability of our offer. The leasing transactions with Schenker and GCA, while the building was being developed, reinforce our investment strategy and the quality of our buildings.”
Prologis Park Le Hode at Le Havre is ideally located along the A131 motorway (Paris – Le Havre via A13) within the port of Le Havre’s industrial zone and close to the Normandy Bridge (A29). It comprises 250,000 square metres of Class-A logistics space and has the potential for up to 315,000 square metres of new 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, 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.
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, Tel: +33 1 48 14 54 01, Email: [email protected], Paris
Agence Dehais: Michelle Kamar, Tél : +33 1 53 53 36 84, [email protected], Paris