), a real estate investment trust (REIT), has recently signed
two lease agreements spanning approximately 355,800 square feet of
space in Germany for an undisclosed amount.
The company leased a 219,600 square foot build-to-suit expansion
facility at Prologis Park Hunxe in western Germany to a third-party
logistics company. With the lease and subsequent completion of its
expansion in fall 2012, the size of the facility is expected to
increase to approximately 650,100 square feet.
The company also leased approximately 136,200 square feet to
MAN Group, a leading manufacturer of vehicles and engines, at
Prologis Park Munich-Neufahrn in southern Germany. With this lease,
the lessee will occupy more than 674,400 square feet space at the
With these agreements, Prologis is likely to strengthen its
relationship with its customers in Germany. The strong leasing
activities in the region reflect the inherent high quality of the
distribution facilities of the company that make them attractive
investment propositions to enhance the supply chain
Prologis acquires, develops, operates and manages industrial
real estate space in North America, Asia and Europe. The majority
of the company's portfolio comprises high throughput distribution
(HTD), which provides multiple options for quick movement and the
distribution of goods to the customer.
The company provides industrial distribution warehouse space in
some of the busiest distribution markets across the globe. The
properties of the company are typically located in large,
supply-constrained infill markets at close proximity toairports,
seaports, and ground transportation facilities, which enable rapid
distribution of customers' products. This has enabled the company
to gain a significant pricing advantage over its competitors.
ProLogis currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. We are also maintaining our
long-term Neutral recommendation on the stock. One of its
PS Business Parks Inc.
) holds a Zacks #2 Rank, which translates into a short-term Buy
PROLOGIS INC (PLD): Free Stock Analysis Report
PS BUSINESS PKS (PSB): Free Stock Analysis
To read this article on Zacks.com click here.