15 December 2011
In the last quarter of 2011, Prologis completed transactions on almost 500,000 sq ft in the Midlands. It has let a 139,000 sq ft building at Prologis Park Pineham to Northampton-based logistics company Dalepak Ltd, while at Prologis Central Park Rugby Norbert Dentressangle has taken a 224,000 sq ft distribution centre. Also at Prologis Central Park Rugby, electrical engineering group Quartzelec has bought the freehold of a 6 acre plot where Prologis is building a bespoke 95,000 sq ft manufacturing facility for a development fee.
With the Dalepak deal, Prologis Park Pineham is fully let leaving only one remaining building in Prologis’ UK development portfolio. At Prologis Central Park Rugby, where Norbert Dentressangle will service its distribution contract with Continental Tyres, all buildings are now fully occupied. Prologis is now carrying out infrastructure work for the final phase of Prologis Central Park Rugby and it will start construction work on the Quartzelec building in early 2012.
Commenting on the three transactions James Craddock, Vice President at Prologis said:
“Our developments at Pineham and Rugby are proving to be a great success. The strategic location of both sites and our high quality, energy-efficient buildings are attracting both distribution and manufacturing occupiers and helping to retain skilled jobs for the Midlands.”
