Prologis breaks ground on speculative facility at Prologis Park Budapest-Sziget – EuropaProperty

Prologis has broken ground on a speculative facility, totalling 21,000 sqm, at Prologis Park Budapest-Sziget. Construction is scheduled for completion in the third quarter of 2016.

Inspired by Earth Day, the eco-themed event was marked by a tree planting ceremony. It is the seventh facility to be built at Prologis Park Budapest-Sziget, which is fully occupied. It is also Prologis’ 38th domestic building and the first speculative development in the Hungarian market since 2008.

“With a portfolio that has 97-percent occupancy and an exceptionally high customer retention rate of 90 percent in Hungary, now is the right time to start expanding our portfolio and launch a new development,“ said Laszlo Kemenes, senior vice president and country manager, Prologis Hungary. “This new state-of-the-art facility meets all the requirements of today’s customers by combining Prologis’ customer-focused, high-quality facility management with its global commitment to sustainability.”

Prologis Park Budapest-Sziget currently comprises six buildings totalling 128,000 sqm. The park is located in the industrial zone of Szigetszentmiklós, in a south-eastern submarket of Budapest that provides direct access to the national and international road network via the Budapest ring highway.