BARCELONA – 23 February 2017 – Prologis, Inc., the global leader in logistics real estate, today announced that it has signed an agreement to develop a 53,500 square metre Class-A build-to-suit facility for Logiters, a Spanish subsidiary of ID Logistics S.r.l, a leading French contract logistics provider.
Prologis also began construction of a 26,500 square metre speculative logistics building.
Both buildings are at Prologis Park Penedes, a logistics park in the heart of the Penedes region and close to Barcelona, one of Spain’s most important logistics corridor. The Logiters building will be the largest build-to-suit facility ever done in Catalonia.
As part of the agreement, Prologis acquired a 126,000 square metre acre plot of land in Penedes.
The building will be equipped with LED lighting, reducing electricity consumption by approximatively 40 percent, and feature a state-of-the-art fire extinguishment system and wide manoeuvring areas.
The first phase of the build-to-suit and the speculative building are expected to be completed by the third quarter of 2017.
“The location offers excellent access to Barcelona 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, senior vice president, country manager, Prologis Iberia. “This new development is a benchmark for a new generation of logistics and distribution facilities in Barcelona and our first development since 2009 in the Barcelona market.”
As of 31 December 2016, Prologis owned and managed more than 800,000 square meters of logistics space in Spain.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of December 31, 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 676 million square feet (63 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-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forwardlooking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forwardlooking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust status, tax structuring and income tax rates (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading “Risk Factors.” We undertake no duty to update any forward-looking statements appearing in this document.