Prologis Starts 2012 with Strong First Quarter Across Europe

Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced strong progress in its European operations for the first quarter of the year.

First quarter leasing activity of approximately 991,000 square metres including:

·         94,000 square metres leased in Evry, France, to Geodis, a leading European logistics firm, including an expansion of 24,710 square metres; and

·         33,800 square metres in Dąbrowa Górnicza, Poland, to DHL Exel Supply Chain, part of the world’s leading mail and logistics group, Deutsche Post DHL.

Prologis completed the sale of 704,000 square metres of buildings and 271,000 square metres of land. This included the sale in the UK of a 323,000 square metre portfolio; the disposal in Germany of approximately 211,800 square metres of distribution space comprising 12 distribution facilities and three land parcels; and the sale in Poland of a 164,000 square metre portfolio of industrial properties as previously announced.

Prologis acquired two new distribution facilities in Paris and Lyon from Constructa Asset Management on behalf of CarVal Investors, totalling approximately 32,000 square metres. Both facilities are fully leased.

Finally in the first quarter of 2012, the company started one development in Slovakia, comprising approximately 24,500 square metres.

“We built on the momentum from the last quarter and continued to increase our occupancy in the first quarter, despite an uncertain economic environment,” said Philip Dunne, president, Prologis Europe. “We continue to capitalise on strong customer relationships and on our strategically-located portfolio in the core logistics hubs and major corridors across the European markets. Strong operations and targeted capital deployment will continue to ensure we drive growth in our total returns while delivering on our customers’ evolving needs.”