ProLogis to Develop for Teva in England
- Feb 14, 2008
ProLogis Inc. will develop 262,000 square feet of warehouse space in the United Kingdom for Teva, a pharmaceutical supplier, it has announced. The new building is located at ProLogis at Glasshoughton, being developed near Leeds, England. Building is slated to begin this month, and it is scheduled to be ready for occupation in the fall. The new site will serve as the company’s primary U.K. logistics center and corporate headquarters. Teva, the largest supplier for U.K.’s public funded National Health Service, currently employs about 1000 people in the region, and will be moving from a smaller facility to the new larger building.As of December, 2007, ProLogis is the top provider of industrial properties in the United Kingdom and has developed more than 18.6 million square feet there. Northern England is a highly populated area, with favorable distribution potential, and ProLogis’s clients in that area now include ASOS.com, Bosch-Siemens, The Co-operative Group, GEFCO, Honda Logistics, Pirelli, Sainsbury’s, Screwfix, Superdrug, and Tesco. ProLogis worldwide portfolio of owned and managed industrial assets in North America, Europe and Asia, is now valued at more than $34 billion. ProLogis has recently taken aim at the environment impact of its structures and has developed sustainability objectives and concerted efforts towards development. Walt Rakowich, Prologis president & COO, as reported previously by CPN, has said that the firm’s green initiative started three years ago actually began in its United Kingdom ventures.