ProLogis European Properties maintains high occupancy in France with
102,000 square metres of leasing activity
News release
ProLogis European Properties maintains high occupancy in France with
102,000 square metres of leasing activity
Luxembourg - 16 February 2009 - ProLogis European Properties
(Euronext: PEPR), Europe's largest owner of modern warehouse
distribution facilities, announced today that it has concluded five
lease agreements for a total of 102,000 square metres in France.
Two lease agreements concern nine year lease renewals, at current
market rents, to December 2017. Auchan, one of France's largest hyper
and supermarket retailers, has renewed its occupancy of 16,000 square
metres in Lille DC2. A leading worldwide distributor of electrical
parts and supplies, has renewed a 9,700 square metre lease in Lille
DC1.
Burton, the textile clothing chain in the French Omnium group, has
extended its 13,000 square metre lease in Paris for a further three
years until March 2017. Darty, a leading French electrical supplies
retailer, will continue to occupy 43,200 square metres of space at
ProLogis Park Isle d'Abeau in Lyon until December 2016. Both
agreements have an increase in passing rent with a cap on future
indexation.
In addition, ND Logistics, a pan-European provider of transport and
logistics services, has extended its existing 20,100 square metre
lease in Orleans, north-west France, for one year.
Simon Nelson, head of asset management of PEPR said: "We are pleased
to maintain our high occupancy level in France during current
difficult market conditions. These transactions demonstrate our
proactive approach to asset management and our strong customer
relationships. As a result of these renewals, PEPR's portfolio in
France is now fully occupied."
The transactions were completed on behalf of PEPR by ProLogis (NYSE:
PLD), manager of the PEPR portfolio.
For further information, please contact:
Investor relations
ProLogis European Properties +44 207 518 8708
Jennifer van der Eem, VP Investor Relations
jvandereem@prologis.com
Media
M:Communications +44 20 7153 1523 or 7153 1549
Ed Orlebar / Charlotte McMullen
orlebar@mcomgroup.com / mcmullen@mcomgroup.com
About ProLogis European Properties (PEPR)
ProLogis European Properties, or PEPR, which listed on Euronext
Amsterdam on 22 September 2006, is the largest pan-European owner of
high quality distribution and logistics facilities. Established in
1999, PEPR is a real estate investment fund (organised as a
Luxembourg closed-ended fonds commun de placement) externally managed
by a subsidiary of ProLogis, the world's largest owner, manager and
developer of industrial distribution properties.
As at 31 December 2008, PEPR has a portfolio of 246 buildings,
covering 5.2 million square metres in 11 European countries, with a
net open market value of ¤3.4 billion. The portfolio has an
occupancy level of 97.3% and an average of 4.0 years to the next
lease break or 6.1 years to lease expiry.
This announcement was originally distributed by Hugin. The issuer is
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