London, 27 February 2018 – Gazeley, a leading investor and developer of logistics warehouses and distribution parks, announces that it has leased over 4.3 million SQ FT of warehousing space across Europe over 2017.
In December 2017, Gazeley was acquired by GLP to establish the company in a key market which continues to benefit from a compelling structural market evolution, bolstering demand for logistics space. Gazeley recorded a strong period of leasing in recent months, related to growing demand of space for e-commerce and omnichannel retail operations.
Gazeley had a particularly positive period in Germany, signing a number of leases including a 107,000 SQ FT to a leading E-commerce company, at Kassel and a 130,000 SQ FT logistics warehouse in Mannheim.
In the Netherlands, Gazeley announced that it leased over 107,000 SQ FT of logistics space in Venlo Logistics Centre 4 for one of the world’s largest discount supermarket chains last year. This lease brought Gazeley’s occupancy rate in the Netherlands to nearly 100%.
In France, Gazeley has an occupancy rate of 98% with several significant leases including 238,000 SQ FT to French 3PL, Deret Logistique, near Orleans, as well as over 400,000 SQ FT to the German global discount supermarket chain, LIDL, near Paris.
Beyond the leasing activity, key development highlights in Europe include the completion of a new 1.3 million SQ FT logistics facility in the Hamburg area for Amazon. In France, Gazeley started construction of a new distribution and storage facility for Conforarma measuring approximately 1.9 million SQ FT, the largest logistics building developed in France.
In the UK, notable developments include the completion of 102,000 SQ FT development for UK Mail in Magna Park, Milton Keynes. Construction on the build-to-suit warehouse began in early June and Gazeley was able to deliver the project within 23 weeks, highlighting its ability to fast track developments on behalf of its customers. Last year, Gazeley also announced the speculative development of 574,000 SQ FT building at Magna Park, Milton Keynes, the largest of its kind in the current property cycle.
This activity reflects the continued quality of Gazeley’s portfolio in Europe and its ability to deliver assets that meet the varying needs of its customers. All of Gazeley’s sites in Europe are situated near key transport links with unparalleled access to major cities and international routes.
Nick Cook, Chief Executive Officer, Gazeley: “Gazeley is continuing to grow its presence in in its key European markets through increased development and strategic acquisition. Over our 30 years history, we have built a strong reputation for customer service, quality and innovation and our recent leasing activity highlights our ability to provide high quality, innovative logistics real estate solutions to our growing customer community. We will continue to build upon this momentum going forward and remain committed to delivering high quality space to support our customers throughout Europe”
In the last year, Gazeley recorded 5.3 million SQ FT of development starts, 1.5 million SQ FT of completed developments and has over 5 million SQ FT of sites currently under development.
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Gazeley is a leading developer, investor and manager of European logistics warehouses and distribution parks with a 17 million square foot portfolio concentrated in the strategic logistics markets of the UK, Germany, France and the Netherlands. In addition to its operating portfolio, which is 98% leased to blue chip customers such as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allows for the development of an additional 16 million square feet. Gazeley is GLP’s Europe platform.
GLP is the leading global provider of logistics solutions. Through its network of strategically-located properties and ecosystem partners, GLP is able to offer both space and technology-led solutions to drive value for its customers. GLP is one of the world’s largest real estate fund managers, with over US$46 billion of assets under management and a global portfolio of 636 million square feet spread across eight countries globally.
For further information about Gazeley please go to www.gazeley.com
For further information about GLP please go to www.glprop.com