Prologis & Dalepak Limited Lease Deal

Industrial real estate giant Prologis, Inc. (NYSE: PLD) has just announced leasing Prologis Park Pineham DC139, a 139,000-square-foot building in the UK. Leaser Dalepak Limited, a logistics provider, obtains a 100 percent utilized property in the deal.

According to the press from the companies, Gary White, Dalepak's Co-Managing Director, had this to add about the deal:

"The decision to move into this new Prologis building is a tremendous step forward for our business. We already have a skilled workforce and highly sophisticated technology. Now we have the building to match."

For those unfamiliar with Dalepak, the company is a leading UK warehousing, distribution, and contract packing outfit. Freight forwarding and Internet fulfillment to Integrated solutions, the company does a lot more than "just putting things into boxes. Phillip Dunne, President of Prologis Europe, added this:

"By understanding Dalepak's requirements, we were able to provide a new, energy efficient facility that will be an ideal fit for their headquarters. With this agreement, only one building now remains available in our entire UK development portfolio."

Prologis has some 21 plus million square feet of operating space, as well as nearly 500,000 square feet being developed in the UK alone. For more information on this news, please consult the original PR Newswire release here.

Image courtesy Prologis website.