Prologis leases 44,000m[sup]2[/sup] development space in UK

Prologis announced it has signed lease agreements totalling 43,000 m² to two customers in the UK. 'Recent first-quarter lease activity in the UK has filled two newly developed distribution centers,' said Andrew Griffiths, managing director of Prologis UK. 'While we are still facing a challenging market environment, these new lease agreements indicate further signs of stabilization and improvement in the UK industrial property market.'

Prologis has leased 37,000 m² of distribution space at Prologis Park Kettering to the Oxford University Press, a department of Oxford University. Prologis Park Kettering is a 158,000-m² distribution park located near junction seven of the A14 motorway, just north of Kettering town centre. With this lease, four of the five buildings at the newly developed distribution park are now fully occupied.

Additionally, Prologis has signed a lease agreement with an international catering company for 6,400 m² at ProLogis Park Heathrow. The 27,000-m² park is located less than two miles from the Heathrow Airport and a half mile from the M4 motorway, which links to the M25. With this lease, three of the four buildings at the newly developed distribution park are now fully occupied.