February 2008
ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it will develop more than 262,000 square feet of warehouse space in northern England for Teva UK Limited.
Teva will be located in ProLogis at Glasshoughton, a new industrial building planned for development near the city of Leeds, England, along the M62, a major east-west motorway. The company is relocating from a smaller, existing facility nearby and will use the new space as its primary UK logistics center and corporate headquarters. Teva is a major supplier for the National Health Service, the publicly funded health service for the UK.
"We are very pleased to provide Teva with a new building in this strategic market," said Andrew Griffiths, managing director for ProLogis in the UK. "Northern England has evolved into an important location for bulk distribution, owing to the area's large population and convenient access to regional distribution markets via the M62. We believe this corridor offers favorable distribution fundamentals, making it an ideal location for companies with large-scale and build-to-suit facilities requirements."
"We're eager to move to our new state-of-the art site," said John Beighton, managing director for Teva UK Limited. "The expanded space enables us to achieve substantial gains in distribution efficiency as we grow our business, offers an improved and more productive working environment and provides proximity to a qualified labour pool. We're very pleased to be working with ProLogis and look forward to realizing the benefits of this new facility."
Located along the M62, ProLogis at Glasshoughton is within easy reach of Leeds, one of the fastest growing cities in England, and Wakefield, an emerging distribution hub. Construction of the building is scheduled to begin in February and will be ready for occupation this fall.
Teva is the largest supplier of medicines to the NHS; up to one in six prescriptions dispensed in the UK uses a Teva product. The company employs almost 1000 people at sites in Yorkshire, Essex, Sussex and Cheshire.
ProLogis is the United Kingdom's largest provider of industrial distribution facilities, with more than 18.6 million square feet (1.72 million square metres) of industrial space owned, managed and under development, as of December 31, 2007. Current ProLogis customers in the region include ASOS.com, Bosch-Siemens, The Co-operative Group, GEFCO, Honda Logistics, Pirelli, Sainsbury's, Screwfix, Superdrug and Tesco.
About ProLogis
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 118 markets across North America, Europe and Asia. The company has $36.3 billion of assets owned, managed and under development, comprising 508.8 million square feet (47.3 million square meters) in 2,766 properties as of December 31, 2007. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs more than 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.
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