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155,000 sq ft Build To Suit deal for Europa

Prologis (NYSE: PLD), a leading global provider of distribution facilities, has signed a new build to suit deal with Europa Worldwide Logistics ("Europa"), a leading transport and logistics company, for a 155,000-square-foot unit at Prologis Park Midpoint.

The building will serve as the company’s West Midlands operations’ centre. Europa is expanding its operations in the region, having outgrown its current facility in Birmingham, and will create 70 jobs onsite. This is the second successful cooperation between Prologis and Europa following a previous deal at Grange Park, Northampton, five years ago.

This is Prologis’s fifth build to suit deal in the UK in the past 12 months.

Prologis Park Midpoint comprises 65 acres of prime industrial and distribution land. Strategically situated northeast of Birmingham and with close access to the M6, M6 Toll and M42, the site is within a five-mile drive of 11 motorway junctions. Prologis is currently marketing another three units of land totaling 700,000 square feet for development on a build-to- suit basis. In January last year, Prologis secured a lease agreement on a 237,000-squarefoot distribution warehouse to Biffa, the leading integrated waste management business.

Prologis Park Midpoint epitomises Prologis’ ongoing commitment to environmental stewardship. The new unit is designed to achieve a BREEAM Excellent rating and will be carbon neutral in construction. Regulated energy use will be up to 25% lower than the latest 2010 Building Regulations. This will comply with the proposed 2013 Building Regulations and help Europa reduce their energy costs up to 78% compared to existing warehouses.

Carl Potter, Administration Director at Europa, said: "In our business location is key. We looked at a number of options and Midpoint is the best connected park in the West Midlands. Prologis sets industry standards in the development of distribution warehouses and it is reassuring to be working with them again. We look forward to working hand in hand on the specifications of our new facility. Being able to design a facility specifically adapted to our business needs is a huge advantage and will significantly reduce our operating costs."

Andrew Griffiths, MD of Prologis UK, commented: "We are very pleased to be able to extend our excellent relationship with Europa. We endeavour to offer our customers the best opportunities and services in the market and achieving repeat business is a strong endorsement of our success.
"This is a revolutionary deal for Prologis. The BTS deals we have undertaken since the beginning of the downturn have been of significant size and scale. This latest transaction demonstrates how purpose built facilities enable companies with smaller distribution needs to drive efficiencies that cannot be achieved from the majority of existing buildings in this size range."