Prologis Signs 270,000 Square Foot Build-To-Suit Agreement with L'Oreal in
SAN FRANCISCO, Sept. 9, 2013
SAN FRANCISCO, Sept. 9, 2013 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the
leading global owner, operator and developer of industrial real estate, today
announced it has signed a build-to-suit agreement totaling 270,000 square feet
in France with L'Oreal, the French cosmetics group.
The development, located at Prologis Park Vemars, will be occupied by
L'Oreal's French consumer products division (L'Oreal France Grand Public).
This will be the sixth facility at the park, which offers direct access to
Roissy-Charles de Gaulle Airport. The building is being designed to receive
"very good" BREEAM certification.
L'Oreal is an existing Prologis customer with facilities in Poland and the
"We continue to see a scarcity of available Class-A space driving
build-to-suit solutions in Europe and are delighted to strengthen our
established relationship with L'Oreal," said Philip Dunne, president, Prologis
Europe. "This transaction further highlights the strategic value of our land
bank as well as our ability to meet specific logistics requirements."
Prologis is the leading provider of industrial real estate in France, with
approximately 30 million square feet of logistics and distribution space as of
June 30, 2013.
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 June 30, 2013, Prologis, Inc. owned or had investments
in, on a wholly owned basis or through co-investment ventures, properties and
development projects expected to total approximately 563 million square feet
(52.3 million square meters) in 21 countries. The company leases modern
distribution facilities to more than 4,500 customers, including manufacturers,
retailers, transportation companies, third-party logistics providers and other
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.
SOURCE Prologis, Inc.
Contact: Tracy Ward, Tel: +1 415 733 9565, email@example.com, San Francisco,
or Atle Erlingsson, Tel: +1 415 733 9495, firstname.lastname@example.org, San
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