Prologis Begins 23,000 Square Metre Speculative Development at Valencia
VALENCIA – 17 November 2016 – Prologis, Inc., the global leader in logistics real estate, announced it has launched a 23,000 square metre logistics building, which is being speculatively developed on recently acquired land at Ribarroja del Túria POS in Valencia.
The development is the first phase of a 46,000 square metre logistics park that Prologis plans to develop in the short term.
Completion of the building is expected in the first quarter of 2017.
The development is in the Ribarroja del Túria POS, an ideal location for logistics activities. It will provide excellent services and a minimum beam height of up to 11 metres, which allows for an additional 20 percent of storage space than standard logistics buildings.
The building will be equipped with LED lighting, saving up to 40 percent of electricity consumption, and feature a state-of-the-art fire extinguishment system. It will provide the capacity for the storage of sensitive products that conventional systems currently do not have.
"The location offers excellent access to Valencia and other major cities and proximity to a strong labor supply, both of which are ideal for companies that want to become more efficient and competitive,” said Gustavo Cardozo, country manager, Prologis Spain. “This new development is a benchmark for a new generation of logistics and distribution facilities in Valencia.”
Prologis is the leading provider of logistics real estate in Spain, with a presence in major logistics markets and currently more than 800,000 square metres of logistics space and distribution as of September 30, 2016.
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2016, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 665 million square feet (62 million square meters) in 20 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,200 customers across two major categories: business-tobusiness and retail/online fulfilment.
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