by Ákos Budai | Industrial

Prologis, announced its results for the first half of 2015 in Central and Eastern Europe (CEE). H1 saw over 900,000 square metres leased 97,000 square metres acquired, 97,500 square metres under construction and 130,000 square metres completed.


Prologis, announced its results for the first half of 2015 in Central and Eastern Europe (CEE). H1 saw over 900,000 square metres leased 97,000 square metres acquired, 97,500 square metres under construction and 130,000 square metres completed.

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:
  • M1 Business Park, which totals 69,105 square metres 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 square metres 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


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

  • 29,000 square metres at Prologis Park Prague-Jirny for Globus
  • 27,650 square metres at Prologis Park Szczecin
  • 18,550 square metres at Prologis Park Wroc³aw V
  • 16,430 square metres at Prologis Park Bratislava
  • 5,885 square metres at Prologis Park Bratislava


Completed Developments

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

  • 32,100 square metres at Prologis Park Prague-Airport for Èerva, a wholesale personal protective equipment supplier
  • 31,730 square metres at Prologis Park Prague-Jirny for Mall.cz, an online consumer goods and electronics store
  • 30,000 square metres of speculative space at Prologis Park Prague-Airport
  • 23,600 square metres of speculative space at Prologis Park Bratislava, which is already fully leased
  • 12,350 square metres for an automotive services provider at Prologis Park Prague-Jirny


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 of nearly 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:

  • 48,800 square metres of new and additional space at Prologis Park Prague-Jirny with Globus
  • 26,500 square metres at Prologis Park Poznañ II with an e-commerce company
  • 15,900 square metres at Prologis Park Budapest M1 with an electronics manufacturer
  • 12,550 square metres at Prologis Park Poznañ II with Solid Logistics
  • 12,000 square metres 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 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."