Prologis Signs 20,000 Square Meter Agreement with Rajapack

AMSTERDAM (January 26, 2017) – Prologis, Inc., the global leader in logistics real estate, today announced that it has signed an agreement totaling 20,000 square meters with Rajapack, the market leader in packaging materials.

Wido Bourel, general manager of Rajapack Benelux, said: "Rajapack has invested heavily in new products in 2016. In addition to packaging, investments have been made in materials for warehouses and a state-of-the-art supply for retail and e-commerce players. The remarkable growth in sales and products has prompted the need for new space."

The lease includes an existing facility at Prologis Park in Tongeren. From here, Rajapack distributes to the Benelux region as well as to Germany, Austria, Switzerland and Denmark. Prologis has fully leased two distribution facilities in Tongeren with a total size of 37,000 square meters. With this agreement, all distribution space is fully leased. There is the possibility, however, to scale up with 18,000 square meters.

"With this contract, we have fully leased our entire portfolio in eastern Belgium. We are pleased to team up with Rajapack, which has been our international partner for quite some time," said Bram Verhoeven, country manager, Prologis Benelux.

Prologis is also active in Luik, where it previously built a new facility totaling 55,000 square meters for global apparel brand Skechers.

Prologis is one of the leading providers of logistics real estate in the Benelux, with approximately 1.9 million square metres of logistics and distribution space as of December 31, 2016.