Prologis sums up Q1 2014 activity in Central & Eastern Europe – EuropaProperty

Prologis has announced its first quarter 2014 activity in Central & Eastern Europe (CEE). In the first quarter, Prologis CEE leased nearly 300,000 sqm, a 30 percent increase year over year. Transactions in Poland accounted for 44 percent of all leases signed in the region.

The company signed new lease agreements totalling 105,000 sqm and lease renewals of more than 154,000 sqm. The remaining activity was covered through short-term agreements.

In the first quarter, Prologis initiated three developments totalling 56,400 sqm, including: 27,000 sqm of speculative space at Prologis Park Wroclaw V DC5, Poland; 18,200 sqm of speculative space at Prologis Park Wroclaw III DC1, Poland, and 11,200 sqm build-to-suit facility for Prime Cargo in Szczecin, Poland.

The company also acquired Prague Modletice D1, a high-quality 16,000 sqm logistics facility – renamed Prologis Park Prague D1 West II – located in the Prague D1 zone of the Czech Republic.

“Growing customer demand in select markets across the region led to strong year-over-year growth in leasing activity in the first quarter,” said Ben Bannatyne, managing director, Prologis Central & Eastern Europe. “We are firmly committed to increasing our occupancy through the year and may initiate new developments or target acquisitions to meet our customers’ needs.”