15 February 2010
Prologis has leased 402,000 square feet of distribution space at Prologis Park Kettering to Oxford University Press (pictured above), a department of Oxford University and the largest continuously operating university press in the world. Prologis Park Kettering is a 1.7-million-square-foot distribution park located near junction seven of the A14 motorway, just north of Kettering town centre. With this lease, four of the five buildings at the newly developed distribution park are now fully occupied.
Nigel Portwood, Chief Executive of OUP, commented: "We are delighted to be moving to new state-of-the-art facilities in Prologis Park Kettering in early 2011. It will contribute towards improving our distribution service and will be a factor in enabling future business growth."
Additionally, Prologis 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.
"Recent lease activity in the UK has enabled us to increase occupancy in those two recently developed distribution parks," said Andrew Griffiths, managing director of Prologis UK. "While we are still facing a challenging market environment, these new lease agreements indicate further signs of stabilisation and improvement in the industrial property market."
Prologis is the leading provider of distribution space in the UK with a portfolio totalling approximately 18.5 million square feet. Other major customers in the country include Amazon.com, Bosch-Siemens, Debenhams, DHL, GEFCO, Honda Logistics, Kuehne + Nagel, Sainsbury's, Superdrug and Tesco.
