MILAN – 1 February 2017 – Prologis, Inc., the global leader in logistics real estate, today announced that it has signed an agreement to develop a 30,000 square metre Class-A build-to-suit facility for Brivio e Viganò Logistics S.r.l, an integrated logistics company, near Milan.
As part of the agreement, Prologis acquired a 17.5 acre plot of land in Pozzuolo Martesana, providing Brivio e Viganò with a valuable location that benefits from easy reach to Milan as well as excellent transport links to the rest of the country.
The building will feature differentiated temperature controlled units for the storage of fruits and vegetables, fresh food products and meats. It is scheduled for completion by the first quarter of 2018.
“The acquisition of this well-located land strengthened our presence around Milan and enabled us to demonstrate our ability to develop a high-quality facility that meets our customers’ needs,” said Sandro Innocenti, senior vice president, country manager, Prologis Italy. “As a growing market with increasing demand, we see further development opportunities in Italy.”
As of December 31, 2016, Prologis owned and managed approximately 1.03 million square meters of logistics facilities in Italy.
Prologis was advised by DLA Piper.
Prologis, Inc. is the global leader in industrial real estate. As of September 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 671 million square feet (62 million square meters) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
The statements in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“REIT”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading “Risk Factors.” Prologis undertakes no duty to update any forward-looking statements appearing in this release.