Prologis Expands Footprint in Core Belgian Logistics Markets
Today Prologis announced it will acquire six high-quality logistics facilities totaling 157,500 square meters in Belgium’s key logistics markets of Liege, Beersel and Kontich.
The acquisition includes 80,000 square meters of land for the future development of 45,000 square meters of logistics space.
Strengthening Prologis’ footprint
Prologis entered into the transaction with AG Real Estate to accelerate its growth in Belgium. The facilities in Liege, Beersel and Kontich are leased to current Prologis customers.
“Our focus has always been on locations that best serve the needs of our customers, and these facilities, located along one of Europe’s busiest logistics corridors, are highly complementary to our existing portfolio,” said Jack Geurtjens, Director, Transactions Northern Europe , Prologis. “Demand for high-quality logistics buildings close to consumption centers is rising sharply and this transaction is an important piece of our expansion strategy.”
Said Tatiana Posa, senior transaction manager for AG Real Estate: “As a diversified real estate player, we have, for several years, been determined to create a logistics portfolio in line with our strategy of concentrating our efforts in a dedicated logistics JV. This disposition balances out our portfolio and aligns with this strategic approach.”
Prologis was advised by Cushman & Wakefield, PWC and Loyens & Loeff. The seller was advised by Savills/JLL, Linklaters, Aecom and Deloitte.