The company signed new lease agreements totalling 157,000 square metres, renewals of more than 274,000 square metres, and the balance short-term agreements. The occupancy rate in Prologis CEE’s portfolio stood at 90.1 percent at the end of the second quarter.
Notable transactions included:
26,500 sqm Schenker Prologis Park Budapest-Sziget, Hungary
20,600 sqm Hi Logistics Prologis Park Wrocław V, Poland
13,100 sqm ID Logistics Prologis Park Piotrków, Poland
10,000 sqm Raben Group Prologis Park Wrocław, Poland
38,000 sqm Procter & Gamble Prologis Park Sochaczew, Poland
34,000 sqm Viva Manufacturing Prologis Park Teresin, Poland
23,200 sqm Eurocash Prologis Park Błonie II, Poland
20,500 sqm HOPI Prologis Park Budapest-Harbor, Hungary
Acquisitions and Developments
In the second quarter, Prologis acquired R6 Logistics Park, renamed Prologis Park Prague Airport, which is a 33 hectare site located north-west of Prague, five minutes from Vaclav Havel Airport. Prologis has initiated development of a 30,000 square metre speculative facility on the park.
The company had seven industrial facilities under construction during the quarter, totalling more than 131,000 square metres. The properties include:
Buildings Under Construction
30,000 sqm Speculative Prologis Park Prague Airport, Czech Republic
27,000 sqm Speculative (75% pre-let) Prologis Park Wrocław V, Poland
23,700 sqm Speculative (40% pre-let) Prologis Park Bratislava, Slovakia
18,200 sqm Speculative (40% pre-let) Prologis Park Wrocław III, Poland
13,900 sqm Build to suit for Tomra Prologis Park Bratislava, Slovakia
11,200 sqm Build to suit for Prime Cargo Prologis Park Szczecin, Poland
7,540 sqm Build to suit for DB Schenker Prologis Park Budapest-Sziget, Hungary
"The leasing markets in Central & Eastern Europe are improving, albeit at an uneven pace," said Ben Bannatyne, managing director for Central & Eastern Europe at Prologis. "There is growing customer demand in our global markets, where there is a lack of appropriate supply and market rents justify new development. This activity is increasing, partly because supply chain reconfiguration plans that had been postponed are now coming off the shelf.”
With its active engagement in five countries across the region (Poland, Czech Republic, Hungary, Slovakia and Romania) and a portfolio totalling more than 3.7 million square metres, Prologis is the leading operator of distribution facilities in Central & Eastern Europe (as of 30 June 2014).