L’Oréal, a leading cosmetics producer, has prolonged the lease agreement for its storage and office space in Prologis Park Prague D1 East. Cushman & Wakefield facilitated the prolongation of the lease agreement until 2021.
“L’Oréal’s strategic objective was to make sure that its storage facilities are located near the D1 motorway primarily with regard to the connection to the countries within the region where the company operates. I am happy that we have again managed to negotiate the best terms for L’Oréal at Prologis Park Prague D1 East, which is where the company has been operating since 2005,” says Robert Bocker, Head of the Industrial Brokerage Division for the Czech Republic at Cushman & Wakefield, who facilitated the lease along with Vít Zdráhal. L’Oréal is leasing 13,750 sqm in Prologis Park Prague D1 East, of which over 12,680 sqm is storage space.
Prologis Park Prague D1 East is located approximately 11 km southeast of Prague and its strategic position within 15 minutes from the center of Prague makes it a sought-after location for clients. As a result, the park has enjoyed 1 percent vacancy for a long time. For L’Oréal it is a strategic location since the company serves the Czech Republic, Slovakia and Hungary within the region and has its headquarters in Prague.
“The location close to the D1 and the favourable conditions for storage and e-commerce operations are an important factor for us in terms of the entire region’s logistics. Since the storage facility serves for the distribution of products to all three countries of the region, this is the best location for us,” added Jaromír Zika, Operation Director for the Czech Republic, Hungary and Slovakia.