ProLogis' total investment in the properties is in excess of $200 million. It owns the five properties in which 15 smaller Unilever facilities will be consolidated, and leases them back to Unilever. A breakdown of prices for each of the properties is not available, nor is the rental rate. However, brokers tell GlobeSt.com the average asking rental rate for warehouse/distribution space in the Carlisle area is between $3.60 per sf and $3.75 per sf, making the deal worth about $6 million a year.
Consideration of the consolidated, five-property, nationwide network was begun by Unilever HPC and ProLogis in 2000 in order to reduce logistics costs and improved speed to market.
Shipments from the Carlisle facility are scheduled to begin in the third quarter, and the Atlanta facility began operations this June. The three additional facilities will be delivered in 2003.
The new network reportedly represents a 15% improvement in efficiency compared with the previous, 15-property network and will enable Unilever to ship all of its products to customers throughout North America in one day.
ProLogis manages the Unilever HPC distribution network.
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