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:

New Leases

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

Renewals

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).

Prologis