Prologis, Inc., the global leader in industrial real estate, today announced
its results for the third quarter of 2014 in Central and Eastern Europe (CEE).
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 CEEās portfolio was 7.7 percent at the end of the third quarter.
Notable transactions included:
New Leases
Space (mĀ²) |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 WrocÅaw III, Poland
Lease Renewals
25,433 |Calberson |Prologis Park Bucharest A1, Romania
16,911 |Volkswagen Group |Prologis Park PoznaÅ II, Poland
12,692 |VF Czech Services |Prologis Park Prague-Uzice, Czech Republic
11,052 |Hi Logistics |Prologis Park WrocÅaw IV, Poland
10,914 |dm-drogerie markt |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 WrocÅaw, Szczecin
and Bratislava markets. Completions included the first āSmall Business Unitsā facility of 18,200 square meters at Prologis Park WrocÅaw 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 ÄERVA at its recently acquired site at Prologis Park Prague-Airport. Another 30,000 square metre speculative facility is under construction at the same park.
āOur third-quarter activity reflects strong recovery markets such as Prague, Poznan and Wroclaw while rental growth has yet to materialize in our other markets in CEE,ā said Ben Bannatyne, managing director
and regional head, Prologis Central and Eastern Europe. āGiven the economic climate and opportunities
for accretive acquisitions, our local teams provide a competitive advantage in sourcing regional investments.ā
With its active engagement in five countries across the region (Poland, Czech Republic, Hungary, Slovakia
and Romania) and a portfolio of more than 4.1 million square metres, Prologis is the leading provider
of distribution facilities in Central and Eastern Europe (as of 30 September 2014).
