FOR IMMEDIATE RELEASE
PARIS (22 March 2016) – Prologis Inc., the global leader in industrial real estate, today announced the completion of the 48,000 square metre first phase, build-to-suit building, comprising eight units, for Action, a major Dutch non-food discount retailer.
Located at Prologis Park Moissy 2 in the city of Moissy-Cramayel in Seine-et-Marne, the building will total in the long term more than 71,000 square metres in 12 units. This site will become Action’s first French logistics platform and its first distribution centre outside the Netherlands. The second phase of the project will be the delivery of four additional units in the spring of 2017.
Action, which operates predominantly in the Netherlands, is increasing the pace of its store openings in France as a result of the delivery of this XXL building, which today is regarded as its French logistics hub. This building provides the storage, management and distribution of consumer products to more than 100 Action stores in France. More than 500 jobs - drivers, order pickers, administrative and management staff - will be created as a result:
This first phase delivery is an important step in the redeployment and reindustrialization of the former PSA site. Most of the buildings have been demolished to enable the development of new Class A buildings,, meeting customers’ current requirements. The debris from the demolished buildings is being recycled for the construction of the new buildings.
The park was designed to enhance and improve the surrounding environment. As a member of CIBI (Conseil International Biodiversité et Immobilier), Prologis is committed, at the park level to ensure a BiodiverCity® approach. This label aims to enhance urban biodiversity over the life of the project through the installation of hives, shelters for various mammals present in the area and an environment-friendly management of the landscape.
This first new building has been developed on a sustainable basis and will be certified BREEAM “Very Good” with non-ribbed facades, full LED lightning and an innovative water management system. Prologis, in partnership with CCI Seine-et-Marne, has innovated by opting for a storm water management for each unit.
”This management system involves directing storm water directly towards ditches, green hollow areas or infiltration ditches located close to waterproof areas, such as parking areas and road works,” explained N’Dogbia Yombo, Project Director, Prologis.
Prologis is helping to reduce blockages in the waste water systems. Moreover, the implementation of various infiltration facilities will also enhance the beauty of the landscape, which is a source of well-being for the customers. In addition, Prologis and Action have developed a series of local initiatives for current and future employees jointly with local authorities, including Moissy-Cramayel Town Hall.
Prologis expects to invest more than 100 million euros in Seine-et-Marne, allowing the creation of 1 000 jobs over the next 5 years.
“This first phase reflects the ability of Prologis to deliver high-quality buildings within the time frame, despite poor weather conditions in recent months. We will make a quick start on phase two of this development for Action, which we are pleased to welcome to France. Its trust in us reflects the quality of our park and the professionalism and expertise of our teams.
“This build-to-suit development reinforces Prologis’ position in the south Ile-de-France market, by proposing XXL sized buildings to meet the challenges of e-commerce, large retailers, large manufacturers and major providers,” declared Cécile Tricault, Country Manager, Prologis France.
Diagma acted as legal adviser to Action.
Prologis, Inc. is the global leader in industrial real estate. As of December 31, 2015, Prologis 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. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
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]