Prologis Leases 15,000 Square Metres in Hungary

Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced three lease agreements totalling 15,000 square metres at Prologis Park Budapest-Sziget, Hungary.

The transactions comprise:

•             10,763 square metres in Building 5 to BOY, a 23-year old Hungarian logistics company;

•             2,560 square metres in Building 5to Javépcoop, a 15-year old Hungarian logistics services provider;

•             1,529 square metres of additional space in Building 4 to Essentra Filter Products, the world’s leading independent solutions provider and partner for special filters and scientific services to the tobacco industry. The company now occupies a total of 12,740 square metres in the building.

“We are delighted to welcome new clients to the prime location of Prologis Park Budapest-Sziget,” said László Kemenes, vice president for Prologis in Hungary. “With these transactions Building 5 is fully occupied, and the overall occupancy level of Prologis’ Hungarian portfolio has increased to 86 percent, well above the Hungarian market average of 77 percent.”

Prologis Park Budapest-Sziget comprises seven buildings totalling more than 120,000 square metres of distribution space, and has a further 50,000 square metre that could be developed. The park is adjacent to the M0 Motorway, offering fast and efficient access to the international airport and the Hungarian motorway network.

Other clients in the park include NCR, Quadrant, Trans-Sped, Schneider-Electric, UTi and ADR Logistics.

Prologis’ portfolio in Hungary totals more than 490,000 square metres of industrial space and includes five parks in the Budapest region (Gyál, Harbor Park, Százhalombatta, Szigetszentmiklós, Budaörs) and one in Hegyeshalom. With a regional portfolio totalling more than 3.6 million square metres, Prologis is the leading provider of distribution facilities in Central & Eastern Europe (as of 30 September, 2013).