ProLogis To Lease New Distribution Facility To GEFCO In United Kingdom
ProLogis (NYSE: PLD), a leading global provider of distribution facilities and services, today announced that it has signed an agreement to lease a 226,800-square-foot (21,070 m2) logistics facility in the UK to GEFCO, one of Europe's leading transport and logistics groups. GEFCO will use the facility, located at ProLogis Park Coventry, to support the future growth of its logistics business serving both UK-based and international customers. GEFCO also leases more than 1 million square feet (92,900 m2) from ProLogis at multiple facilities in Germany and France.
Alan Curtis, ProLogis' managing director for the UK, said, "Over the past decade, GEFCO has established itself as one of Europe's leading logistics providers for manufacturers. This position has been built upon GEFCO's legacy as a primary provider of vehicle transport and parts distribution in Europe. We are very pleased to be partnering with GEFCO on the construction of this new facility."
Phil Shankley, managing director at GEFCO UK, said, "As our UK business grows, so does the importance of providing first class logistics facilities for our customers. We are pleased to be working once again with ProLogis, whose expertise in designing and constructing industrial facilities has enabled us to significantly enhance the efficiency of our supply chain operations."
ProLogis Park Coventry comprises approximately 300 acres and a total buildout of 1.6 million square feet of industrial space. Located at a former colliery, the park underwent substantial environmental rehabilitation after its acquisition by ProLogis in 1998. Following the GEFCO transaction, the park will be more than 95 percent leased.
ProLogis Park Coventry offers customers easy access to the M6 Motorway, England's primary north-south vehicle artery. The park also features 24-hour security, rail sidings, a serviced bus route and an extensive greenbelt area.
Other ProLogis customers at the park include Exel, Terex Benford, Mastercare Service and Distribution, Tesco Stores Ltd, and The Co-operative Group.
About GEFCO
A subsidiary of the PSA Peugeot Citroen Group, GEFCO had revenues of
2.9 billion euros (US$3.1 billion) in 2004. With its integrated network and
multimodal services (road, rail, sea, air), GEFCO is one of Europe's top ten
transport and logistics groups. Its three areas of expertise are vehicle
preparation and distribution, road transport, and sea/air freight logistics
and transport. The group has 400 business locations worldwide.
About ProLogis
ProLogis is a leading provider of distribution facilities and services
with 368 million square feet (34.2 million square meters) in more than 2,300
distribution facilities owned, managed and under development in 76 markets in
North America, Europe and Asia. ProLogis continues to expand the industry's
first and largest global network of distribution facilities with the objective
of building shareholder value. The company expects to achieve this through
the ProLogis Operating System and its commitment to be 'The Global
Distribution Solution' for its customers, providing exceptional facilities and
services to meet their expansion and reconfiguration needs.