Prologis European Properties, one of Europe's largest owners of modern warehouse distribution facilities, announced on Tuesday that it has renewed a 12,000 m[sup]2[/sup] lease with one of Europe's leading fashion retailers. The lease agreement is a 10-year renewal, to February 2019, at current market rents at Prologis Logistic Park Muggensturm near Stuttgart.
Prologis European Properties, one of Europe's largest owners of modern warehouse distribution facilities, announced on Tuesday that it has renewed a 12,000 m2 lease with one of Europe's leading fashion retailers. The lease agreement is a 10-year renewal, to February 2019, at current market rents at Prologis Logistic Park Muggensturm near Stuttgart.
The retailer has occupied this facility since 2003 and uses the space as a regional distribution centre, delivering various lines of apparel to its network of retail stores throughout southwest Germany. The transactions were completed on behalf of PEPR by Prologis, manager of the PEPR portfolio.
