Euronext-listed Prologis European Properties (PEPR) has completed lease renewals, totalling 250,600 m[sup]2[/sup] of distribution space, in France and Spain.

Euronext-listed Prologis European Properties (PEPR) has completed lease renewals, totalling 250,600 m2 of distribution space, in France and Spain.

FagorBrandt, a supplier of domestic appliances in France and one of the leading players in the European market, has signed two lease renewals totalling 103,600 m2. The first for 69,300 m2 is in Prologis Park Orléans and the second for 34,300 m2 is at Isle d'Abeau, both in France. The leases will expire in December 2021 and are subject to standard lease indexation.

PEPR's largest customer, CEVA Logistics, has renewed three leases totalling 75,700 m2. Two agreements are 12-year lease renewals at Prologis Park Vatry, near Paris. The first, for 42,500 m2, will expire in December 2021 and the second, for 20,300 m2, will run to December 2022. Both leases include a maximum and minimum on future indexation. The final lease renewal covers 12,900 m2 of distribution space at Prologis Park Alcala, near Madrid. This five-year lease renewal will expire in March 2016 and is subject to standard lease indexation.

A nine-year lease renewal was signed with Depolabo Pharma Logistique, one of the largest providers of pharmaceutical pre-wholesale and contract logistics services in France. The lease covers 20,600 square metres at Prologis Park Angers, France, where the company has been leasing space from PEPR since September 2001. The lease renewal runs to the end of September 2019 and future indexation is subject to a cap and collar. In addition, Depolabo will remain in 25,100 square metres of space in Prologis Park Arras, France until October 2013.

Schneider Electric, a global specialist in energy management, will remain in 10,400 m2 of space at Isle d'Abeau, France once its current lease for 20,900 square metres expires in 2011. The new lease will run from February 2011 to February 2017 and is subject to standard lease indexation.

Finally, European integrated equipment and service supplier, Daher International, will remain in 15,200 m2 at Le Havre, France until March 2014. Daher has been leasing space from PEPR in Le Havre since March 2002 and the lease is subject to standard lease indexation.

The transactions were completed by Prologis, manager of the PEPR portfolio.