PEPR completes lease agreements for 40,800 square metres with
Schneider Electric in Spain
News release
ProLogis European Properties completes lease agreements for 40,800
square metres with Schneider Electric in Spain
Luxembourg - 8 June 2009 - ProLogis European Properties (Euronext:
PEPR), Europe's largest owner of modern warehouse distribution
facilities, today announces that it has successfully concluded a
lease extension and expansion with Schneider Electric, a global
specialist in energy management, covering a total of 40,800 square
metres in Sant Boi de Llobregat (Barcelona), Spain.
Schneider Electric extended its existing 28,100 square metre lease in
ProLogis Park Sant Boi for another four years to January 2020 under
the existing terms. In addition, Schneider Electric has expanded into
an adjacent 12,700 square metre facility to the same maturity date at
market rents, following early vacation by the previous customer.
Simon Nelson, head of asset management of PEPR said: "We continue to
work closely with customers to provide flexible, cost-effective
solutions for their supply chain needs. This approach, combined with
our portfolio of modern, efficient distribution facilities has
enabled us to maintain industry-leading occupancy levels despite the
global downturn."
The transactions were completed on behalf of PEPR by ProLogis (NYSE:
PLD), manager of the PEPR portfolio.
-Ends-
For further information, please contact:
Investor relations
ProLogis European Properties +44 20 7518 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 (NYSE: PLD), a leading global provider of
industrial distribution facilities.
As at 31 March 2009, PEPR has a portfolio of 246 buildings, covering
5.2 million square metres in 11 European countries, with an estimated
net open market value of ¤3.4 billion. The portfolio has an
occupancy level of 97.0% and an average of 3.9 years to the next
lease break or 6.2 years to lease expiry.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.