"ProLogis' growth in Southern Italy has solidified the company's stature as one of the largest providers of distribution space in a key European logistics hub," says Ranald Hahn, managing director for ProLogis. "In 2002, ProLogis began construction on three build-to-suit facilities for TNT Logistics in Milan; we are pleased to be expanding our relationship with them in this market and throughout Europe."
Located between three and 43 miles from Milan, the properties include 133,440 sf of distribution space in Zibido Distribution Center, 549,035 sf in Seliport Distribution Center, 474,945 sf in Cortmaggiore Distribution Center and 561,273 sf in Arena Po Distribution Center.
With this acquisition, TNT, one of ProLogis' top 10 tenants, will be leasing more than 4.5 million sf of distribution space from the company. The recent acquisitions were made on behalf of the ProLogis European Properties Fund.
ProLogis portfolio exceeds 226 million sf in 1,760 distribution facilities owned, managed and under development in 70 markets in North America, Europe and Japan.
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