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Prologis Signs Build-to-Suit Agreement with Prime Cargo
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WARSAW – 17 March 2014 – Prologis, Inc., the leading global owner, operator and developer of industrial real estate, announced today that it has signed an agreement for a 11,200 square metre build-to-suit facility at Prologis Park Szczecin with Prime Cargo, a Danish third-party logistics company.
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The property will serve as a distribution centre for Prime Cargo’s customers in Scandinavia. Prologis Park Szczecin provides direct access to road and ferry routes, enabling quick delivery of goods. Completion of the building – developed on Prologis’ existing land bank – is scheduled in the third quarter of 2014.
“Prologis Park Szczecin is an ideal place for companies operating in Germany or Scandinavia” said Ben Bannatyne, managing director and regional head, Prologis Central & Eastern Europe. “Proximity to key transportation routes makes the park an important and strategic location for the 3PL distribution market.”
Prologis Park Szczecin is a fully-leased, modern distribution centre in northwest Poland totalling 41,800 square metres. It is located within the Goleniów Industrial Park off the S3 motorway, about 40 kilometres east of the German border and seven kilometres from Szczecin-Goleniow Airport. Other Prologis customers at the park include: Swedwood, Rhenus Logistics, KIM HURT, and DB Schenker.
With its active engagement in five countries across the region (Poland, Czech Republic, Hungary, Slovakia, and Romania) and a portfolio totalling more than 3.6 million square metres, Prologis is the primary operator of distribution facilities in Central & Eastern Europe (as of 31 December 2013).
About Prologis
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of December 31, 2013, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 52.9 million square metres in 21 countries. These properties are leased to more than 4,500 customers, including third-party logistics providers, transportation companies, retailers, manufacturers, and other enterprises.
The statements in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of developed properties, disposition activity, general conditions in the geographic areas where we operate, synergies to be realized from our recent merger transaction, our debt and financial position, our ability to form new property funds and the availability of capital in existing or new property funds — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("REIT") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading "Risk Factors." Prologis undertakes no duty to update any forward-looking statements appearing in this release.
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