Prologis European Properties announced on Wednesday that it has renewed a 19,435 m[sup]2[/sup] lease agreement at Schiphol, Amsterdam, with DHL Global Forwarding and completed four lease agreements in the Rotterdam area covering almost 42,000 m[sup]2[/sup]. As a result of these transactions, occupancy of the PEPR portfolio in the Netherlands has increased to approximately 95.7% from 90.4% at end December 2008.
Prologis European Properties announced on Wednesday that it has renewed a 19,435 m2 lease agreement at Schiphol, Amsterdam, with DHL Global Forwarding and completed four lease agreements in the Rotterdam area covering almost 42,000 m2. As a result of these transactions, occupancy of the PEPR portfolio in the Netherlands has increased to approximately 95.7% from 90.4% at end December 2008.
The Schiphol lease with DHL Global Forwarding is a new five-year agreement and is in line with current market levels, covering 19,435 m2 of space to the southeast of the airport, with no lease break.
Two of the lease agreements in Rotterdam, totalling 11,200 m2, are with C. Steinweg Handelsveem, a Dutch storage and logistics services provider and a new customer for PEPR. Both leases are at current market rents and for 3.5 years. Prologis Park Eemhaven is now fully leased.
The third lease agreement in the Rotterdam area was signed at Maasvlakte with a leading logistics provider specialising in the storage and shipping of exchange-traded metals and soft commodities. The two-year lease, for 19,121 m2, is in line with current market rents. Prologis Park Maasvlakte, encompassing 66,963 m2 in total, is now 83.5% occupied.
A fourth agreement, also at Maasvlakte, is for a two-year lease renewal signed with a subsidiary of one of the largest international third party logistics providers, for 11,437 m2. The lease is at current market rental levels and the distribution space will be used to store consumer goods, Prologis said.
