Prologis Leases 225,000 Square Feet to Jaguar Land Rover in UK Development
SAN FRANCISCO, Aug. 18, 2014 /PRNewswire/ -- Prologis, the global leader in industrial real estate, today announced a new lease agreement for 225,000 square feet at Prologis Park Ryton in the United Kingdom, with Jaguar Land Rover.
The facility, which is part of Jaguar Land Rover's recently launched special operations division, will be the company's global hub for the creation of its high-performance, luxury bespoke vehicles.
"We are very excited by the capability and potential that this new facility will give us," said John Edwards, Jaguar Land Rover's managing director of special operations. "We will be creating truly iconic vehicles that reinforce the global reputation of both the Jaguar and the Land Rover brands as we expand our product portfolio and fulfill our ambitious plans."
The new facility, completed this May, is proximate to Jaguar Land Rover's headquarters, and is well-located at the heart of the motorway network, within easy reach of the M6, M69 and M40/M5.
"We are delighted that Jaguar Land Rover has chosen to establish its special vehicles operations technical center at Ryton," said Andrew Griffiths, managing director, Prologis U.K. "We are investing in our prime sites to create the best opportunities in the market for our customers, and we are pleased that our facility meets Jaguar Land Rover's requirements."
Prologis owns and manages approximately 20 million square feet (21,000 square meters) of logistics and distribution space in the U.K. as of June 30, 2014.
Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of March 31, 2014, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 574 million square feet (53.3 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
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SOURCE Prologis, Inc.