Prologis, Inc., the global leader in industrial real estate, today announced it has signed a 118,000 square meter build-to-suit agreement together with BMW Group in the Landshut region of Bavaria.
The facility is located in the north east of the Munich metropolitan region along theA92 motorwayand connects the districts of Bruckberg-Gündlkofen and Landshut city. The property is 35 kilometers from Prologis Park Munich-Neufahrn and represents one of the few sites in the area with the potential to accommodate a sizeable development.
The building is being designed to meet the German Sustainable Building Council’s (DGNB) silver standard and is expected to be completed in the first quarter of 2016.
“This agreement demonstrates the power of our global customer relationships and extends our partnership with BMW Group to seven markets in the U.S and Europe,” said Thomas Karmann, senior vice president, regional director, Prologis Northern Europe. “As one of the largest connected logistics developments in the country, this property will further strengthen our presence in one of the most land-constrained locations in Germany.”
Prologis owns and manages approximately 2 million square meters of logistics and distribution space in Germany as of March31, 2015.
Prologis, Inc., is the global leader in industrial real estate. As of March 31, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 594 million square feet (55 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.