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New Lease Agreement with Kuehne + Nagel

Warehouse distribution specialist ProLogis Developments has announced that it has signed two new lease agreements totalling 910,000 square feet of space, with leading logistics provider Kuehne + Nagel, at two major distribution parks.

The biggest lease is for a 540,000 sq ft facility at ProLogis Park Wellingborough in the East Midlands. The prestigious, 1.15m sq ft park is in a top UK location for distribution, offering strategic access to several major highways, including the A14, A45 and M1. Other customers at the park include Monsoon Accessories and Homebase. Kuehne + Nagel plans to operate the facility on behalf of several clients, including Whitbread plc, the UK's largest hotel and restaurant company.

Kuehne + Nagel is one of ProLogis’s multi-continent customers, and has taken a second lease on a 370,000 sq ft unit at ProLogis Park Isle d’Abeau, a 4.5m sq ft distribution park in the city of Lyon, France, to operate as a multi-user site, serving customers throughout southern France. ProLogis Park Isle d' Abeau is located 10 minutes from Lyon international airport, 20 minutes from central Lyon and 30 minutes from Grenoble. The park provides direct access to the A43 motorway and is in a prime location for distribution to Paris, Marseille, Milan and Barcelona, via the A6/A7 motorway. ProLogis owns 16 facilities in the park.

Gary Anderson, president of ProLogis in Europe said the new leases underlined the developer’s ever-strengthening European and global market position.

"ProLogis has one of the most geographically diverse platforms in the industry. We have the distinctive ability to meet our customers' strategic supply chain needs in more than 120 markets worldwide. The breadth of our portfolio, combined with our commitment to nurturing customer relationships, has been fundamental to supporting continued leasing activity in our inventory space throughout Europe."

ProLogis is one of the largest providers of distribution space in Europe, with more than 119 million square feet of space owned, managed or under development, as of March 31, 2008. The Kuehne + Nagel Group is one of the world's leading logistics providers, with 850 offices in more than 100 countries and more than 52,000 employees.