Prologis has announced its results for the first half of 2015 in Central and Eastern Europe (CEE). As a result of its active investment strategy over the last six months, Prologis CEE acquired six buildings totalling more than 97,000 sqm. Those transactions comprised the following:
M1 Business Park, which totals 69,105 sqm across five buildings and is located 23 kilometres west of the Budapest city centre; the park has been renamed Prologis Park Budapest M1.
Westgate Park Rudna, which totals 28,000 sqm in one building and includes 14 hectares of surrounding development land, which has been combined with the adjoining Prologis Park Prague-Rudna; the park is 20 kilometres from the Czech capital.
Prologis CEE began construction of four speculative developments and build-to-suit facility, which together total 97,500 sqm: 29,000 sqm at Prologis Park Prague-Jirny for Globus, 27,650 sqm at Prologis Park Szczecin, 18,550 sqm at Prologis Park Wrocław V, 16,430 sqm at Prologis Park Bratislava and 5,885 sqm at Prologis Park Bratislava.
Prologis CEE delivered five facilities totalling 130,000 sqm: 32,100 sqm at Prologis Park Prague-Airport for Červa, a wholesale personal protective equipment supplier, 31,730 sqm at Prologis Park Prague-Jirny for Mall.cz, an online consumer goods and electronics store, 30,000 sqm of speculative space at Prologis Park Prague-Airport, 23,600 sqm of speculative space at Prologis Park Bratislava, which is already fully leased, and 12,350 sqm for an automotive services provider at Prologis Park Prague-Jirny.
Prologis CEE leased more than 905,000 sqm in the first half of the year, a 10-percent increase over the same period of time last year. The company signed new lease agreements totalling 324,000 sqm and lease renewal agreements of nearly 411,000 sqm. The remaining activity comprised short-term agreements.
At the end of the first half, the Prologis CEE portfolio was 93.1 percent leased, excluding developments currently under construction.
Notable transactions included the following: 48,800 sqm of new and additional space at Prologis Park Prague-Jirny with Globus, 26,500 sqm at Prologis Park Poznań II with an e-commerce company, 15,900 sqm at Prologis Park Budapest M1 with an electronics manufacturer, 12,550 sqm at Prologis Park Poznań II with Solid Logistics and 12,000 sqm at Prologis Park Stenovice with Borgers.
“The first half of the year was successful for Prologis CEE. Our focus was to strengthen our portfolio based on strategic acquisitions and development projects in key logistics markets where state-of-the-art industrial space is in short supply,” said Ben Bannatyne, managing director, Prologis Central and Eastern Europe. “We made good investment decisions, as evidenced by our leased space volume of almost 1 million sqm, a high portfolio lease rate of 93.1 percent and a customer retention rate of 86.3 percent. Our customers have confidence in the quality of our services and in the user-friendly plans and locations of our parks.”
