Prague (30 January, 2018) - Prologis, Inc., the global leader in logistics real estate, today announced that it has begun construction of a new 28,300 square metre speculative facility at Prologis Park Prague-Uzice in the Czech Republic.
It will be the third building at fully occupied Prologis Park Prague-Uzice and is scheduled to be completed by mid-2018. The park comprises 97,800 square metres of modern warehouse space and has 42,850 square metres of additional development potential. The speculative building, as is customary for all Prologis facilities in Central and Eastern Europe, will be submitted for BREEAM accreditation.
“The Uzice location has become a new logistics hot spot in the Greater Prague area, we continue to see strong demand for speculative space there. In fact, demand for our modern, sustainable distribution facilities is outpacing supply at parks across the country,” says Martin Baláž, director of leasing and development, Prologis Czech Republic and Slovakia. “We will continue this mixed build-to-suit and speculative development building strategy in markets that show strong demand amid low vacancy.”
Prologis Park Prague-Uzice is a modern logistics park strategically located on the D8 highway, just 9 kilometres north of Prague. The park currently consists of two state-of-the-art logistics facilities totalling 97,800 square metres.
Prologis is a leading provider of distribution facilities in the Czech Republic with more than 1 million square metres of logistics and industrial space (as of 31 December 2017).
About Prologis
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 683 million square feet (63 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,000 customers across two major categories: business-to-business and retail/online fulfillment.
Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust status, tax structuring and income tax rates (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document.