"ProLogis' primary focus is to assist its customers in streamlining supply-chain networks by optimizing their real estate assets," says John Derweduwe, ProLogis country officer for Spain. "The combination of high-quality facilities and being located in global distribution markets, as demonstrated at Centro de Trasportes Coslada, allows us to deliver on that promise."
The acquisition furthers an aggressive European strategy by ProLogis this year, including another major development in Madrid. The company is currently building Park Alcala, located roughly 15 miles outside the city on the main Madrid-Barcelona highway. The complex will provide 1.2 million sf of distribution space.
In addition to its holdings in Spain, ProLogis has revealed major Italian acquisitions and a sizeable leasing deal in France, all since Jan. 1.
In Paris, the company recently leased 213,000 sf of space at Cergy-Pontoise Distribution Center to logistics provider Giraud Logistique. The facility will be used as a cosmetics distribution center.
The company also has acquired four properties in Milan. Located in four separate industrial parks, the assets total 1.7 million sf and are fully leased under long-term agreements to a division of TNT Logistics.
In Piacenza, Italy, ProLogis is developing a fifth facility at its ProLogis Park Piacenza here, breaking the one-million sf mark. The project is a 133,000-sf distribution center for cosmetics and pharmaceuticals firm Difarco. Construction is scheduled for completion this September. Difarco already leases a 328,442-sf space at Park Piacenza from ProLogis.
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