ProLogis Czech portfolio grows with new build to suit project

PRAGUE – January 19, 2011 – ProLogis (NYSE: PLD), the leading global provider of distribution facilities, announced today it will develop 22,350 square meters of modern warehouse space for Globus, one of the largest hypermarket operators in the Czech Republic.

The new distribution centre will be developed in ProLogis Park Prague-Jirny, located  20 kilometres east of Prague, on the first junction of the D11 motorway.  Globus already occupies approximately 43,000 square meters of space at the same park, and will occupy the new building upon construction completion.

Construction of the 22,350-square meter facility is expected to be completed in the fourth quarter of 2011. This development will also serve as the Czech hub of Globus for temperature controlled logistics. Potential expansion of the building allows for the development of additional 25,000 square meters.

“We already have a longstanding relationship with ProLogis at ProLogis Park Prague-Jirny and know with our current business expansion plans we are going to need more high-quality warehouse space,” said Werner Eberhart, Globus’ logistic manager. “With a growing company such as Globus, the flexibility and expertise ProLogis is able to offer were important to the deal.”

“We are very pleased to strenghten our relationship with Globus, one of our key customers in the Czech Republic,” said Mario Sander, ProLogis’ market officer for Czech Republic and Slovakia. “As we started discussions with Globus for the new building it became clear that their needs could be met with our existing land bank. ProLogis has a unique global franchise of people, customers and land, enabling us to meet any need for distribution space throughout Central and Eastern Europe, and globally.”

Cushman & Wakefield real estate agency acted as the broker for this transaction.

ProLogis Park Prague-Jirny currently consists of six buildings totalling 192,000 square meters of modern distribution space. Other clients at the park include DHL, Toyota and THIMM Obaly.

ProLogis’ portfolio in the Czech Republic comprises six distribution parks (26 buildings) totalling more than 605,000 square metres of warehouse and office space. In Central and Eastern Europe, ProLogis has a portfolio totalling 3.7 million square metres at 41 distribution parks.