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Prologis Inc (PLD - Analyst Report), 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 facility.

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 efficiencies.

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 competitors, PS Business Parks Inc. (PSB - Analyst Report) holds a Zacks #2 Rank, which translates into a short-term Buy rating.

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