AMSTERDAM-ProLogis has signed agreements to construct three build-to-suit facilities in Germany and Austria. The buildings will total almost 400,000 square feet, and will cost about $31 million in total.
The plans are for a project in Vienna, where the company has signed an agreement to build a 115,000-square-foot distribution facility for a third-party logistics provider. This building will go in ProLogis Park Himerg, with construction scheduled to begin in August and a completion in February.
The other two buildings are for third-party logistics providers in Leipzig, which is located in southeast Germany, and northern Germany. The first property, a 93,000-square-foot distribution facility, will be built in Prologis Park Leipzig along the A14 motorway. Construction will start this summer and will be complete in early 2011, the company said in a statement. The northern Germany facility, a 181,000-square-foot distribution project for a global supplier, will go in an existing park and should be finished by December.
The tenants for the buildings were not revealed by the company. The firm aims to achieve $700 million to $800 million of global development starts and $350 million to $400 million of land monetization during 2010, according to the company’s statement. Prologis has more than 475 million square feet in markets across North America, Europe and Asia.
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