ProLogis European Properties renews 12,000 square metre lease in Germany with one of Europe's leading fashion retailers
Luxembourg - 31 March 2009 - ProLogis European Properties (Euronext: PEPR), Europe's largest owner of modern warehouse distribution facilities, announced today that it has renewed a 12,000 square metre lease with one of Europe's leading fashion retailers.
The lease agreement is a ten year renewal, to February 2019, at current market rents at ProLogis Logistic Park Muggensturm near Stuttgart. The retailer has occupied this facility since 2003 and uses the space as a regional distribution centre, delivering various lines of apparel to its network of retail stores throughout south-west Germany.

Simon Nelson, head of asset management of PEPR said: "We are very pleased to have renewed this lease agreement, demonstrating our ability to sustain high occupancy levels and rental income. It also reinforces our position on the German market, where our strategically located distribution facilities provide an excellent platform for trade across Europe and where our facilities are currently 98% occupied."
The transactions were completed on behalf of PEPR by ProLogis (NYSE: PLD), manager of the PEPR portfolio.