18,240 Square Metre Property Nearly 40 Percent Pre-Leased
WARSAW – 7 April 2014 – Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced it has commenced construction on 18,240 square metres of Class-A logistics space at Prologis Park Wrocław III.
The new facility will offer customers the most flexible design configurations of industrial real estate in the Wroclaw market with unit sizes starting from 650 square metres. Construction is scheduled for completion in the third quarter of 2014.
Two pre-lets, totalling 6,800 square metres, have already been signed, including:
- 5,500 square metres to Neuca, the largest distributor of pharmaceutical products in Poland that is planning further development of its operations in the region. The lease is for 10 years;
- 1,300 square metres to Metalcom Sp. z o.o., a supplier of fasteners, anchoring solutions and non-standard fastening products. Prologis’ facility was selected due to the limited availability of small, Class-A units with loading docks and level access gates.
“For several months, demand for modern logistics space in the Wrocław region has been growing,” said Ewa Zawadzka, vice president, head of development, Prologis Poland. “This facility has the unique capability to meet the needs of both large and small companies needing top-quality, customizable space.”
Prologis Park Wrocław III is situated seven kilometres southeast of Wrocław, at the Wroclaw ring road at Graniczna Street, 3.5 kilometres from the city’s airport. The 130,000-square-metre modern distribution park is 91 percent occupied. The park will be fully developed once the new facility is completed.
Prologis is the leading provider of industrial real estate in Poland with approximately 1.97 million square metres of logistics and distribution space as of December 31, 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 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.