Milan (1 February 2018) – Prologis, Inc., the global leader in logistics real estate, today announced it has signed a construction agreement for a build-to-suit logistics (BTS) facility with Kering Italia Spa, the Italian subsidiary of the multinational luxury goods group. The 16,500 square meter facility is under construction at Vescovada (PD) near the A13 highway, in the heart of Italy’s eyewear district.
The facility will be developed on part of a 50,000 square meter land plot owned by Prologis and is expected to be completed in the fourth quarter of 2018. The building will comprise 2,100 square meters of office space and a 14,400 square meter area for eyewear customization, logistics and storage. Kering Eyewear’s new logistics platform will feature large outdoor areas and parking spots for employees and guests. The facility will also feature Prologis’ EEGLE technology, a digital tool which helps customers optimize their building’s operations, reduce costs and minimize environmental impact. It is the first tool of its kind in the industrial real estate sector and enables remote management of a logistics building. The interface connects to the building by sensors, allowing users to monitor energy consumption, manage maintenance deadlines and detect operational malfunction.
“We’re excited to tailor this new build-to-suit logistics facility to the needs of our client, the Kering Group”, said Sandro Innocenti, senior vice president, country manager, Prologis Italy. “the facility will be sustainable, technologically advanced and built on land already owned by Prologis, with sufficient space for potential extensions. This development further strengthens our presence in the Veneto region.”
The facility is a turnkey build by general contractor Techbau. Prologis is being advised by DLA Piper.
Prologis owns and manages approximately 888,150,000 square metres of distribution space in Italy as of December 31st, 2017.
ABOUT PROLOGIS
Prologis, Inc. is the global leader in industrial real estate. As of September 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 671 million square feet (62 million square meters) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
FORWARD-LOOKING STATEMENTS
The statements in this release 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 release.