Euronext-listed Prologis European Properties has completed four new lease agreements and three lease renewals, totalling 123,500 m[sup]2[/sup] of distribution space, in France and Italy.

Euronext-listed Prologis European Properties has completed four new lease agreements and three lease renewals, totalling 123,500 m2 of distribution space, in France and Italy.

Four new lease agreements, totalling 41,200 m2, relate to previously vacant space at Prologis Park Bologna in Italy. The new lease agreements will each run for six years and two months. Also in Italy, NYK Logistics has signed a three-year renewal for 33,500 m2 of space at Prologis Park Romentino, from where it manages the logistics activities for sports lifestyle company Puma.

In France, ITM Logistique Alimentaire International (part of the leading French supermarket chain Intermarché) has renewed two leases for 48,800 m2 of space at Prologis Park Clesud close to Marseille in the south of France. Both leases will run for nine years from April 2011 to March 2020. Intermarché, which has occupied both facilities at Clesud since 2001 and 2002 respectively, will continue to use the facilities for the distribution of products in the southeast of France.

All seven leases were agreed at market rents, are subject to standard lease indexation, and on average have 4.2 years to next lease break or 6.9 years to lease expiry.