SAN FRANCISCO, Nov. 18, 2014 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the global leader in industrial real estate, today
announced a 261,000 square foot (24,300 square meter) lease
agreement in Denver.
HD Supply Facilities Maintenance Ltd., a leading industrial
distributor, will occupy the space at Prologis Stapleton Business
Center North. The lease brings the 1.2 million square foot (111,000
square meter) master-planned park to full occupancy and marks
Prologis' second significant pre-lease transaction at this location
in less than a year.
"We are pleased to extend our relationship with HD Supply to
seven U.S. markets," said Scott
Lamson, president, Northwest Region, Prologis. "Market
occupancy in Denver is at a
15-year high of 95 percent, and we are developing logistics
facilities to meet demand for Class-A product while monetizing our
land bank."
Prologis owns and operates more than 5.5 million square feet
(511,000 square meters) in 31 buildings in the Denver area.
ABOUT PROLOGIS
Prologis, Inc., is the global leader in industrial real estate.
As of September 30, 2014, Prologis
owned or had investments in, on a wholly owned basis or through
co-investment ventures, properties and development projects
expected to total approximately 585 million square feet (54 million
square meters) in 21 countries. The company leases modern
distribution facilities to more than 4,700 customers, including
manufacturers, retailers, transportation companies, and third-party
logistics providers.
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 Prologis
operates, management's beliefs and assumptions made by
management. Such statements involve uncertainties that could
significantly impact Prologis' financial results. Words such as
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," 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 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 ("REIT") status and tax structuring, (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 and funds, 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 Prologis under
the heading "Risk Factors." Prologis undertakes no duty to update
any forward-looking statements appearing in this document.
SOURCE Prologis, Inc.