Global provider of distribution facilities Prologis has signed a new build-to-suit (BTS) development agreement totaling 22,400 m[sup]2[/sup] and with a total expected investment of $19.2 mln (EUR 14 mln).
Global provider of distribution facilities Prologis has signed a new build-to-suit (BTS) development agreement totaling 22,400 m2 and with a total expected investment of $19.2 mln (EUR 14 mln).
Prologis will develop the facility on land it owns at Prologis Park Jirny, located 20 kilometers east of Prague. Construction is expected to start in the first quarter of 2011. Upon completion, Globus Group, a German hypermarket operator, will occupy the space.
'We are excited to begin 2011 with a new construction project in Central and Eastern Europe, which coordinates with our overall focus on land monetization,' said Philip Dunne, president of Prologis Europe.
Upon completion of the facility expected for late 2011, ProLogis Park Prague-Jirny will comprise seven buildings totaling 214,400 m2 of distribution space. Additional Prologis customers at the park include DHL, Toyota and THIMM Obaly.
