Logistics space provider Prologis said on Tuesday it has signed agreements to develop three logistics facilities in Europe totalling around 36,100 m[sup]2[/sup].
Logistics space provider Prologis said on Tuesday it has signed agreements to develop three logistics facilities in Europe totalling around 36,100 m2.
Together, the developments represent some $31 mln (EUR 24 mln) of total expected investment and approximately $8 mln of land monetization, helping Prologis meet its 2010 development goals.
The company aims to achieve $700 mln to $800 mln of global development starts and $350 mln to $400 mln of land monetization during 2010.
In Northern Germany, Prologis has signed an agreement to build a 16,800 m2 distribution facility for a global supplier. The building will be constructed on Prologis-owned land at an existing Prologis distribution park. Construction is expected to start in July 2010 and finish in December 2010.
In Vienna, Prologis has agreed to build a 10,700 m2 distribution facility for a leading third-party logistics provider. Subject to planning finalization, the building will be constructed on Prologis-owned land at Prologis Park Himberg, located approximately 15 km south of Vienna near the S1 Motorway. Construction is scheduled to begin in August 2010, with an expected completion date of February 2011.
In Leipzig-Plaußig, Germany, Prologis will construct a 8,600 m2 distribution facility for a leading third-party logistics provider. Subject to planning finalization, the building will be constructed on Prologis-owned land at Prologis Park Leipzig, located along the A14 motorway two miles north of the city of Leipzig. Construction is scheduled to start this summer, and will be completed in early 2011.
