ProLogis Signs Lease With Rhenus in Germany
- Facility Will be Used to Distribute DaimlerChrysler Parts -
STUTTGART, Germany, Dec. 4 -- ProLogis , a leading global provider of distribution facilities and services, announced today that it has signed a lease with Rhenus AG & Co. KG (Rhenus), a third-party logistics provider who will use the facility to serve automotive giant DaimlerChrysler. The company will lease a 129,780 square foot (12,057 m2) facility in ProLogis Logistic Park Muggensturm in Stuttgart.
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ProLogis Logistic Park Muggensturm is located in close proximity to a DaimlerChrysler production plant in Rastatt, Germany. The short distance between these facilities will enable operations to function more efficiently and will assist in streamlining Daimler's supply chain.
According to Joerg Schroeder, vice president and market officer for ProLogis, "This lease is testament to ProLogis' commitment to serving Germany's top business leaders. We are confident that ProLogis' state-of-the art facilities and services will meet both the short and long-term needs of Rhenus and DaimlerChrysler."
ProLogis Logistic Park Muggensturm, located adjacent to the A5 highway, currently has two buildings totaling 201,285 square feet (18,700 m2) of distribution space. Plans are underway to expand the park and establish up to 270,000 square feet (25,000 m2) of additional distribution space. C&A Mode KG also occupies space in the park.
About ProLogis
ProLogis is a leading provider of distribution facilities and services with 237.2 million square feet (22.0 million square meters) in 1,759 distribution facilities owned, managed and under development in 68 markets in North America, Europe and Asia (excludes temperature-controlled distribution facilities). ProLogis continues to expand the industry's first and only global network of distribution facilities with the objective of building shareholder value. The company expects to achieve this through the ProLogis Operating System(R) and its commitment to be 'The Global Distribution Solution' for its customers, providing exceptional facilities and services to meet their expansion and reconfiguration needs.
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