ProLogis Leases to UK Retailer

ProLogis (PLD - Analyst Report), one of the leading global providers of distribution facilities, has recently signed an agreement with Marks & Spencer, a premier retailer in the U.K., to lease about 382,000 square feet of space in the country.

The leased facility is located at ProLogis Park Store in Stoke-on-Trent city, which is approximately an hour from the Birmingham city center. The site has easy access to the highways, and offers better flexibility and efficiency for the supply chain operations of Marks & Spencer.

ProLogis owns and manages interests in over 2,500 distribution facilities, service offices, and properties spanning 475 million square feet (including properties under development) of space. As of Jun 30, 2009, the company had 200.5 million square feet of direct-owned industrial properties -- 81.5% of which was located in North America, 14.2% in Europe, and 4.3% in Asia.

With approximately 18.5 million square feet of distribution space, ProLogis is one of the largest providers of distribution facilities in the U.K. Its major customers in the country include Bosch-Siemens, a leading global manufacturer of home appliances; DHL, a leading global logistics company; Debenhams Plc, a premier U.K. department store; GEFCO, a supply-chain management company; Sainsbury’s, a leading supermarket chain; Screwfix Direct Limited, the largest direct and online supplier of trade tools and accessories; and Superdrug Stores Plc, the second largest health and beauty retain chain in the U.K.

ProLogis is currently monetizing its land bank to capitalize on its construction expertise for grade A sustainable facilities that uniquely satisfy the requirements of its customers and attracts new businesses despite a softening economy.

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