ProLogis and TDG Agree Massive Lyon Warehouse Pre-Letting

LYON-The pan-European logistics group TDG has signed a six-year lease on a 369,202-sf purpose-built distribution complex at the 1.7 million-sf ProLogis Park, Isle d’Abeau. Completion is scheduled for 1 December. ProLogis Park is being developed by ProLogis, the distribution property arm of Security Capital.

Bernard Delles, CEO of TDG France said: ‘We were looking for a centrally located facility that would allow us to serve our customers by rail, air and road. ProLogis provided us not only with the ideal location, but a quality facility in a park designed specifically to serve logistics companies.’

ProLogis Park is one of a cluster of distribution developments in the Ile D’Abeau district. With access to multiple forms of transport, the park has become a hub for European distribution and a number of other logistics companies have already located there, including Auchan, New Wave Logistics and ABX Logistics at ProLogis Park. The park is located near the A43 autoroute and Saint Exupery Airport. In addition, each building has direct rail access.

According to CB Richard Ellis’s recently published EMEA Industrial & Distribution Market Index, demand for distribution property in Lyon increased by 20% over the first half of 2001 and remains strong. Prime warehouse rents have edged upwards to €72 per sq m ($6 per sf) per annum.