AMSTERDAM-ProLogis has signed agreements to construct threebuild-to-suit facilities in Germany and Austria. The buildings willtotal almost 400,000 square feet, and will cost about $31 millionin total.

|

The plans are for a project in Vienna, where the company hassigned an agreement to build a 115,000-square-foot distributionfacility for a third-party logistics provider. This building willgo in ProLogis Park Himerg, with construction scheduled to begin inAugust and a completion in February.

|

The other two buildings are for third-party logistics providersin Leipzig, which is located in southeast Germany, and northernGermany. The first property, a 93,000-square-foot distributionfacility, will be built in Prologis Park Leipzig along the A14motorway. Construction will start this summer and will be completein early 2011, the company said in a statement. The northernGermany facility, a 181,000-square-foot distribution project for aglobal supplier, will go in an existing park and should be finishedby December.

|

The tenants for the buildings were not revealed by the company.The firm aims to achieve $700 million to $800 million of globaldevelopment starts and $350 million to $400 million of landmonetization during 2010, according to the company’s statement.Prologis has more than 475 million square feet in markets acrossNorth America, Europe and Asia.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.