VIGNON, FRANCE-The developer of a planned 400,000-sf warehouse here in the country's southern region has already leased half of the space to FM Logistic, an international provider of third-party distribution services. The space will be used as a distribution center on behalf of US-based Campbell Soup, according to the landlord, ProLogis.

"We are very pleased to be expanding our relationship with FM Logistic," says Ranald Hahn, who oversees the southern European sector for ProLogis, the world's largest developer, manager and owner of distribution-oriented real estate. FM Logistics, notes Hahn, is a repeat customer of the Denver-based real estate investment trust, already leasing more than 1.4 million sf from ProLogis at multiple locations in Europe.

Construction on the latest ProLogis entry is slated to begin this summer, with company officials explaining that the building will provide tenants state-of-the-art warehouse space sporting new mechanicals and safety/security systems upon opening in early 2008. The property is situated along the A7, Frances' primary north-south transit corridor, and is within four miles of Downtown Avignon. "Our new facility will provide [Campbell Soup] and other customers an efficient base for distribution of products to markets throughout the country," Hahn says. The remaining space is being offered to retailers, manufacturers, logistics providers and other companies possessing large-scale warehouse needs, says Hahn, adding his firm hopes to do additional business regionally with FM Logistic as the international platform continues to grow.

Listed on the New York Stock Exchange, ProLogis controls 437 million sf of distribution space globally, owning 2,525 properties as of March 31 in 103 markets throughout Asia, Europe and North America. The assets have a combined value of $28.6 billion. In Europe, ProLogis is established in the United Kingdom and Spain, earlier this month announcing a 516,000-sf development project for the latter country.