The property is expected to be completed in the fourth quarter of this year. The park, which is located north west of Prague in the Czech Republic, has the potential for an additional 102,000 square metres of development.

“We are pleased to begin the first speculative construction at Prologis Park Prague Airport so soon after completing the acquisition of the land at the end of May,” said Ben Bannatyne, Prologis Regional Head for Central & Eastern Europe. “We believe the park's prime location -- offering excellent access to the rest of the Czech Republic and Germany -- makes it one of the most attractive hubs for commercial development in the region. Demand for high-quality space in this area should only grow.”

Prologis Park Prague Airport is located by exit 7 on the R6 highway, just five minutes from Prague Václav Havel Airport, three minutes from the Prague Ring Road, and 10 minutes from the D5 highway, which connects Prague with Pilsen and onto Germany.

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 31 March 2014).