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ProLogis (NYSE: PLD), a leading global provider of distribution facilities and services, announced that it has signed new lease agreements totaling approximately 900,000 square feet (83,600 square meters) of space in the United Kingdom.
The five leases vary in size from 55,000 to 387,000 square feet at various ProLogis facilities in London, the West Midlands and northwest England. All of the agreements are for previously unleased inventory or for space that is due to be completed later this year.
"The pace and scale of the leasing activity that we're seeing throughout the country continues to be remarkable," said Alan Curtis, managing director and head of UK operations. "We're extremely pleased with the success we've seen so far this year, attributable not only to the underlying strength of the market, but to solid execution by our UK team and our continued focus on customer service." The new transactions include: * 387,000 square feet (35,950 square meters) leased to Tesco at a ProLogis
facility in Crewe in northwest England. Tesco, the largest home
shopping service in the world specializing in food products, also leases
185,000 square feet (17,200 square meters) at a ProLogis facility in
Middlewich in northwest England. * 250,000 square feet (23,200 square meters) leased to Dunelm Soft
Furnishings at a ProLogis facility in the West Midlands.
Dunelm Soft Furnishings is the United Kingdom's largest home furnishings
retailer, operating 70 superstores across the UK. * 111,000 square feet (10,300 square meters) leased to Coutts Retail
Communications at a ProLogis facility in east London. Coutts is a
point-of-sale manufacturer for printing systems. * 97,000 square feet (9,000 square meters) leased to fine clothing
retailer Moss Bros. at a ProLogis facility in east London. * 55,000 square feet (5,100 square meters) at ProLogis Park Heathrow to
BAA Plc., operator of Heathrow International Airport and six other major
airports throughout the UK. The park is located less than two miles
from the airport and totals almost 600,000 square feet of industrial
space. ProLogis is the United Kingdom's largest provider of distribution facilities, with approximately 15.3 million square feet (1,400,000 square meters) of industrial space owned, managed and under development. Customers in the UK include leading companies from a wide variety of industries, including Bosch-Siemens, The Co-operative Group, GEFCO, Honda Logistics, John Lewis and Pirelli. Source: Press Release
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