This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Prologis Signs One Million Square Foot Build-To-Suit In United Kingdom

Stocks in this article: PLD

BIRMINGHAM, England, Oct. 18, 2012 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the leading global owner, operator and developer of industrial real estate, announced today it signed a lease agreement for a one million square foot distribution center at the Daventry International Rail Freight Terminal (DIRFT) with Sainsbury's Supermarkets Ltd, a leading retailer in the UK.

The facility will be built on land within the Prologis DIRFT II development and adjacent to a fully-leased 840,000 square foot rail-connected distribution center. At full build-out, the DIRFT II development is expected to encompass 2.2 million square feet. It is located next to the M1 motorway and the West Coast Mainline railway, providing Sainsbury's new facility with both road and rail connectivity.  A new intermodal terminal, which will connect to the existing DIRFT railway sidings, will be installed alongside the building. This will allow Sainsbury's to develop its national distribution operations in an energy-efficient, rail-connected facility.

"The distribution centre at DIRFT II is a significant investment for Sainsbury's," said Roger Burnley, managing director, General Merchandise, Clothing and Logistics, at Sainsbury's. "We are always looking at ways to serve our customers better and this depot will provide us with a central location to support our growing general merchandise business.  We look forward to working with the team at Prologis to deliver this important addition to our logistics network."

Sainsbury's building has been designed to achieve Building Research Establishment Environmental Assessment Method (BREEAM) "Very Good" accreditation and the best possible Energy Performance Certificate (EPC) rating for its size. Construction on the facility is scheduled to begin in early 2013.

"We knew several years ago that rail would become increasingly important to the logistics sector and we have invested in strategic rail-connected sites," said Andrew Griffiths, managing director, Prologis UK. "We were therefore able to understand Sainsbury's requirements and will build to their specifications and provide a facility that meets the company's operational and corporate responsibility needs.  As Sainsbury's decision demonstrates, the move toward rail freight is gathering momentum."

As of June 30, 2012, Prologis had approximately 18 million square feet completed and under development in the UK, as well as 1,075 acres of land available for future development.

About Prologis

Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of June 30, 2012, Prologis owned or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 569 million square feet (52.9 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.

SOURCE Prologis, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,634.55 -38.05 -0.22%
S&P 500 2,046.11 -5.71 -0.28%
NASDAQ 4,747.3460 -10.5330 -0.22%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs