Prologis, Inc., the global leader in logistics real estate, today announced the acquisition of two modern facilities with a total of more than 16,000 square meters in Upplands Väsby and Rosersberg, close to Stockholm Arlanda Airport.
The seller is the real estate arm of Sortex of Sweden AB, the owner of the current tenant, Sevan, a market leader in World Foods.
Sale and lease back
The acquisition has two components. The first is Prologis acquires a 6,200 sqm logistics property in Upplands Väsby, ideally located next to E4 and only 20 minutes from the center of Stockholm. It will be leased back to Sevan for one year and Prologis will subsequently seek new tenants for this logistics property that is attractively positioned for Last Touch® distribution activities.
The second is a forward commitment to acquire a new 10,100 sqm facility. The building will be developed adjacent to Prologis’ DC1 building in Rosersberg, just a few minutes from Stockholm Arlanda Airport and 30 minutes from central Stockholm. The facility will be leased to Sevan on a long-term contract.
The new facility in Rosersberg will be environmentally certified, including LED both inside and outside, ESFR sprinklers, 11,5 meter clear height and a 55 meter deep truck court.
Together with Prologis Arlanda logistics park and Jordbro DC1, Prologis now has over 135,000 sqm under management in the Stockholm region, with additional land available for further construction.
“We are pleased to close this transaction and at the same time be able to welcome a new customer. Expanding in Sweden, and in the important Stockholm region, is one of our core priorities. The acquisition is also in line with our growth strategy in the Swedish market,” says Bram Verhoeven, Regional Head Northern Europe.
Sevan produces, imports and sells food from all over the world.
“Our business is growing steadily, and we needed more space to facilitate our expansion. The deal is the result of a successful cooperation with Prologis, where we have worked as a team, both technically for the new development and as a business solution,” says Michael Maroutian, CEO at Sortex of Sweden AB.
Prologis was advised by Nordic Gatekeeper and DLA Piper. Sevan was advised by Rosengren & Co and MAQS.
For more information go toor contact:
Jan Borg Isabel Kluth
StrandbergHaage Senior Manager Marketing & Communications Northern Europe Prologis
+46 708 388505 +49 211 54 23 10
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 72 million square meters in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,500 customers across two major categories: business-to-business and retail/online fulfilment.
The statements in this release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management's beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust ("REIT") status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading "Risk Factors." Prologis undertakes no duty to update any forward-looking statements appearing in this release.