Third Quarter Leasing Activity
Prologis CEE leased more than 387,000 square metres of space, a 57-percent increase over the same period in 2013.Transactions in Poland accounted for more than 38 percent of all lease agreements signed in the region. The company signed new lease agreements totaling 178,000 square metres and lease renewals of 173,000 square metres, with the balance short-term agreements.
The vacancy rate in Prologis CEE’s portfolio was7.7 percent at the end of the third quarter.
Notable transactions included:
Space (m²) Customer Location
22,080 syncreon Prologis Park Budapest-Gyal, Hungary
16,147 Logistics E van Wijk Prologis Park Bucharest A1, Romania
12,681 Alza Prologis Park Prague-Uzice, Czech Republic
7,473 Leader Logistics Prologis Park Wrocław III, Poland
25,433 Calberson Prologis Park Bucharest A1, Romania
16,911 Volkswagen Group Prologis Park Poznań II, Poland
12,692 VF Czech Services Prologis Park Prague-Uzice, Czech Republic
11,052 Hi Logistics Prologis Park Wrocław IV, Poland
10,914 dm-drogeriemarkt Prologis Park Bratislava, Slovakia
Third Quarter Acquisitions and Developments
Prologis acquired 25 buildings totaling more than 324,000 square metres in Poland, Slovakia, the Czech Republic and Hungary. These assets were acquired at a significant discount to replacement costs.
In addition, the company completed four buildings totaling 70,500 square metres in the Wrocław, Szczecin and Bratislava markets. Completions included the first “Small Business Units” facility of18,200 square meters at Prologis Park Wrocław III, which is already 75 percent preleased.
At the end of September, Prologis announced it would begin the construction of a 31,190 square metre build-to-suit (BTS) facility for ČERVA at its recently acquired site at Prologis Park Prague-Airport. Another 30,000 square metre speculative facility is under construction at the same park.
“Our third-quarter activity reflects strong recovery markets such as Prague, Poznań and Wrocław while rental growth has yet to materialize in our other markets in CEE,” said Ben Bannatyne, managing director and regional head, Prologis Central and Eastern Europe. “Given the economic climateand opportunities for accretive acquisitions, our local teams provide a competitive advantage in sourcing regional investments.”
With its active engagement in five countries across the region (Poland, Czech Republic, Hungary, Slovakia and Romania) and a portfolio of 4.1 million square metres, Prologis is the leading provider of distribution facilities in Central and Eastern Europe (as of 30 September 2014).