PEPR leases 77,500 m[sup]2[/sup] in the Netherlands

Euronext-listed Prologis European Properties (PEPR) has announced the signing of two lease agreements totalling 77,500 m² of distribution space in the Netherlands.

The first lease, with Samsung Electronic Europe Logistics at Prologis Park Tilburg in Noord-Brabant province, covers 56,700 m² and runs for a new fixed term of seven years from January 2010. Samsung was already operating from this location via third party logistics supplier DHL, which leased the building from August 2002.

The second lease has been signed with a global leader in supply chain services for 20,800 m2, which were previously vacant, at Prologis Park Venlo in Limburg province. The company already occupied about 20,000 m² at Prologis Park Venlo. The new agreement will run for a five-year period with no lease breaks.

The transactions were completed on behalf of PEPR by New York-listed Prologis, manager of the PEPR portfolio.