Prologis signs leases in northern Germany

International logistics property operator Prologis has signed two new lease agreements for more than 11,850 m² of recently developed space at distribution parks in northern Germany.

One of the deals involves Volkswagen Original Spare Parts Logistics which selected Prologis Park Cologne Eifeltor for a space of over 7,250 m² in a recently completed facility. The company, which distributes Volkswagen-brand car tires and other spare parts, had an immediate need for warehouse space that would enable them to cost-effectively distribute to their network of suppliers throughout northern Germany.

KfH Logistics signed a lease for 4,600 m² at Prologis Park Alzenau, which is now fully leased. KfH is relocating to Alzenau from an older, non-Prologis warehouse nearby in order to take advantage of Alzenau's modern facility design and access to several major highways and large population centres. KfH will use the warehouse space to distribute medical products and medicine to its network of more than 200 healthcare centres in northern Germany.

'We continue to see customers reconfiguring their supply chains to adapt to the current environment, despite softer overall market conditions,' said Christian Bischoff, regional director for Prologis in northern Europe. 'Prologis' portfolio of assets is among the most strategic and well-located in the market. This leading position, combined with our commitment to providing first-rate customer and property management services, enables us to continue to capture these opportunities as they materialise.'

Prologis is the largest provider of industrial space in Germany with approximately 1.46 million m².