PROLOGIS ACQUIRES FOUR FRENCH DISTRIBUTION CENTERS
ProLogis, the Paris-based provider of distribution facilities and services, said Monday its ProLogis European Properties Fund has acquired four French facilities totaling more than 1.8 million square feet from FM Logistics.
FM Logistics, a European third-party logistics company, will lease the buildings back from ProLogis under leases ranging from three to nine years.
The four facilities' locations and sizes are:
* Crepy en Valois, north of Paris, 672,200 square feet.
* Brumath, a submarket north of Strasbourg in eastern France, 421,300 square feet.
* Senart, south of Paris, 387,800 square feet.
* Isle d'Abeau, Lyon France, 383,700 square feet. Isle d'Abeau is a major distribution center for the Lyon region and includes seven other ProLogis-owned facilities occupied by Auchan, ABX, New Wave Logistics and TDG Logistics.
The new distribution sites include high-quality rail-served buildings, said Ranald Hahn, senior vice president for ProLogis.
ProLogis has 1,729 distribution facilities totaling 208.3 million square feet, either owned, operated or under development in 92 markets throughout North America, Europe and Japan.