ProLogis has announced that it has signed a new build-to-suit development agreement totaling 22,400 m² and with a total expected investment of approximately US $19.2 million (approx. 14.1 million).
ProLogis will develop the facility on land it owns at ProLogis Park Jirny, located 20 km east of Prague. Construction is expected to start in the first quarter of 2011. Upon completion, Globus Group, a German hypermarket operator, will occupy the space.
"We are very pleased to strengthen our relationship with Globus, one of our key customers in the Czech Republic," said Philip Dunne, President of ProLogis Europe. "We are excited to begin 2011 with a new construction project in Central and Eastern Europe, which coordinates with our overall focus on land monetization."
Upon completion of the facility expected late 2011 ProLogis Park Prague-Jirny will comprise seven buildings totaling 214,400 m² of distribution space. Additional ProLogis customers at the park include DHL, Toyota and THIMM Obaly.