Ushering in good news for its European platform, industrial
real estate investment trust (REIT),
) disclosed the penning of three new lease deals spanning 753,000
square feet in its development and acquisition portfolios in the
UK, France and Slovakia. The deals reflect the rising demand for
Prologis facilities in this part of the world.
In the UK, the deal is for a 258,000 square foot lease at
Prologis Tamworth 594 in the West Midlands, England, penned with
a distributor of automotive parts. With this deal, the facility
that was purchased recently gets fully leased.
The second deal is in France for a 345,000 square foot
build-to-suit facility for a retailer at the Meaux Business Park
in the Paris market. Offering direct access to Roissy-Charles de
Gaulle Airport, this facility has provision for expansion up to
538,200 square feet.
The third is also a build-to-suit deal for 150,000 square foot
of space penned with a sensor-based technologies provider.
Scheduled to be positioned at Prologis Park Bratislava, this
facility would enjoy direct access to major motorways, Slovakia's
capital and the international airport.
With around 145 million square feet of logistics and
distribution space as of Sep 30, 2013, Prologis is the leading
provider of industrial real estate in Europe. Moreover, the
current deals reflect the solid demand for special logistics
facilities offered by Prologis.
As a matter of fact, the demand for well-positioned, Class-A
logistics facilities remains high amid a larger customer base and
supply chain consolidation. However, the pace of new units'
construction is low. It is this demand-supply disequilibrium that
is set to define the market dynamics in the near term in Europe.
Alongside, with a capacity to offer modern distribution
facilities in strategic infill locations, Prologis is set to gain
CHATHAM LODGING (CLDT): Free Stock Analysis
CUBESMART (CUBE): Free Stock Analysis Report
COUSIN PROP INC (CUZ): Free Stock Analysis
PROLOGIS INC (PLD): Free Stock Analysis
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Prologis currently carries a Zacks Rank #3 (Hold). However, other
better performing REITs include
Chatham Lodging Trust
Cousins Properties Inc.
). While Chatham Lodging carries a Zacks Rank #1 (Strong Buy),
Cousins Properties and CubeSmart have a Zacks Rank #2 (Buy).