ProLogis Signs Lease Agreements in the UK

ProLogis has signed lease agreements totaling 471,000 square feet, to two customers in the UK.

"Recent first-quarter lease activity in the UK has filled two newly developed distribution centers," said Andrew Griffiths, MD of ProLogis UK. "While we are still facing a challenging market environment, these lease agreements indicate further signs of stabilization and improvement in the UK industrial property market."

ProLogis has leased 402,000 square feet of distribution space at its Park Kettering to the Oxford University Press (OUP), a department of Oxford University.

Additionally, the company has signed a lease agreement with an international catering company for 69,000 square feet at ProLogis Park Heathrow. The 295,000-square-foot park is located less than two miles from the Heathrow Airport and a half mile from the M4 motorway, which links to the M25. With this lease, three of the four buildings at the newly developed distribution park are now fully occupied.

ProLogis, www.prologis.com