Prologis Signs with Pantos Logistics for Build-to-Suit in Tilburg
AMSTERDAM (31 August 2017) – Prologis, Inc., the global leader in logistics real estate, today announced that it has acquired 150,000 square meters of land at Industrial Park Vossenberg West II in Tilburg, in the Southern Netherlands. The built-to-suit with Pantos Logistics will comprise the first development phase of this plot.
Prologis acquired the land from the municipality of Tilburg. It was the last piece of land available at Industrial Park Vossenberg West II, and it will allow Prologis to develop some 90,000 square meters of logistics space. Including this new development scheme, the Prologis Tilburg Park portfolio will comprise approximately 365,000 square meters.
28,000 square meter development for Pantos Logistics
Pantos Logistics, a long-term Prologis customer, will lease the first phase. Because of the leading Korean logistics provider’s growth across a number of areas, including warehousing, additional capacity was required in the Netherlands. To accommodate this growth, Prologis signed a built-to-suit agreement with Pantos Logistics for the development of a 28,000 square meter modern distribution facility that can accommodates the future growth of Pantos Logistics. Construction began recently and is expected to be completed in mid-2018. Alderman Erik de Ridder of the municipality of Tilburg said of the agreement: “We are proud that Pantos Logistics has chosen Tilburg. High-value logistics contributes to the Tilburg economy. We fully appreciate the role Prologis plays as a long-term partner in this agreement.”
“We focus on long-term partnerships and are always eager to strengthen our existing portfolio,” said Bram Verhoeven, country manager, Prologis Benelux. “Our latest acquisition in Tilburg fits seamlessly with our strategy to offer flexibility for our customers.”
Prologis was advised by Cushman & Wakefield and Loyens & Loeff.
Prologis is a leading provider of logistics real estate in the Benelux, with approximately 2 million square meters of logistics and distribution space as of June 30, 2017.