Prologis Reports Solid Performance for the First Half of 2015 in Central and Eastern Europe

27 July 2015

Over 900,000 Square Metres Leased | 97,000 Square Metres Acquired | 97,500 Square Metres Under Construction | 130,000 Square Metres Completed

WARSAW (27 July 2015) – Prologis, Inc., the global leader in industrial real estate, today announced its results for the first half of 2015 in Central and Eastern Europe (CEE). 

Acquisitions

As a result of its active investment strategy over the last six months, Prologis CEE acquired six buildings totalling more than 97,000 square metres.Those transactions comprised the following:

Development Starts

Prologis CEE began construction of four speculative developments and build-to-suit facility, which together total 97,500 square metres:

Completed Developments

Prologis CEE delivered five facilities totalling 130,000 square metres: 

Lease Agreements

Prologis CEE leased more than 905,000 square metres 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 square metres and lease renewal agreements ofnearly 411,000 square metres.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:

 “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 square metres, 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.” 

With its active engagement in five CEE countries and a portfolio totalling 4.3 million square metres, Prologis is the leading provider of distribution facilities in Central and Eastern Europe (as of 30 June 2015).

See also

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