ProLogis European Properties (Euronext: PEPR), Europe's largest owner of modern warehouse distribution facilities, announces that it signed two lease agreements for 10,200 m² of distribution space in ProLogis Park Prague.
The first agreement has been signed with Gefco, a leading European transport and logistics firm. Gefco will occupy 6,600 m² of distribution space in DC2 for a total of five years, from January 2009 to January 2014.
Wilfried Catalanotti, Logistic Operations Manager of Gefco, said: "We are very pleased to have signed this agreement with ProLogis and look forward to working more with them in the future. We have a number of existing leases with ProLogis and have always been impressed by the level of knowledge and expertise of the management team."
The second agreement has been signed with L'Oreal, increasing its occupancy from 10,100 m² to 13,700 m² by adding 3,600 m² of distribution space in DC5. The lease will run for a period of three years, expiring in July 2012.
Gordon Keiser, chief executive officer of PEPR, said, "We are pleased to have completed these two deals, both of which are in line with current market levels. Gefco and L'Oreal are important and growing customers for us and we are delighted to be extending our respective relationships with them. These agreements consolidate our position in the Czech market, a strategic location for us, and increase our already high occupancy levels of over 97%."
At end June 2008, Gefco was PEPR's sixth largest customer with five leases, covering 100,700 m², in Germany, the UK and France. Gefco also occupies a 9,700 m² facility in Poland through ProLogis European Properties Fund II.
L'Oreal holds two leases with PEPR, one in the Czech Republic and one in Poland, covering 26,800 m².
ProLogis Park Prague consists of 13 facilities totalling 190,300 m² located approximately 11 kilometers south-east of Prague at the