Prologis inks 80,000 m[sup]2[/sup] logistics deal with DHL

Prologis has announced the signing of new lease agreements for more than 80,000 m² of distribution space in Europe with logistic services company DHL Exel Supply Chain. Gary Anderson, president of Prologis Europe, noted in a statement that DHL is Prologis' largest global customer. 'At the end of 2007, Prologis had agreements in place for more than 725,000 m² of space with DHL in 10 European countries.'

Prologis, the world's largest owner, manager and developer of distribution facilities, said DHL has agreed to lease almost 40,000 m² in a facility under construction at Prologis Park Tarancon near Madrid to distribute food products for multinational customers throughout Spain.

The 130,000 m² park, which is being built approximately 80 km southeast of the capital, currently consists of one existing facility leased to DHL and two facilities under construction. Both of these facilities will be completed before the end of the year.

DHL is also leasing 23,000 m² in a new, 85,000 m² industrial park being developed near the city of Jonkoping, a major distribution hub in Sweden. Prologis said DHL is expanding its logistics network in the region and will use the facility to enhance its service for its growing Nordic customer base. The park will comprise one multi-customer facility and is scheduled for completion in early 2009.

In addition, DHL is leasing 17,700 m² at Prologis Park Venlo III, a new 45,000 m² industrial park located in the Dutch city of Venlo, less than five kilometres from the German border. DHL will operate the space for Hannspree, a global television retailer, serving northern and western Europe.

DHL, a subsidiary of the Deutsche Post World Net group, is one of the world's largest providers of logistics, mail and transportation services, as well as financial services. Headquartered in Bonn, Germany, the company's subsidiaries include DHL, Exel, Deutsche Post and Post Bank. The company operates in more than 220 countries or territories around the world with a workforce of over 500,000 employees.

Prologis is one of the largest providers of distribution space in Europe with more than 9.4 million m² owned, managed or under development at end-September 2007.