Prologis Agrees 54,900 sq m of Lettings in Poland

Inc., the leading global owner, operator and developer of industrial real estate, today announced that it has signed six leasing agreements for a total of 54,900 square metres in Poland.

The company has signed two new leasing agreements at Prologis Park Szczecinin the north of Poland and has renewed four leases, totaling 39,800 square metres, at various locations around the country.

The new leasing agreements comprise:

• 7,900 square metres with Schenker Sp. z o.o., an integrated logistics solutions provider. The facility will be used as a distribution hub for Western Europe and Scandinavia.

• 7,200 square metres with Swedwood, a pine wood furniture manufacturer and part of the IKEA group. The facility will serve as Swedwood’s distribution centre for Poland and Europe.

Bartosz Mierzwiak, vice president & market officer for Prologis Poland, commented: “We are delighted to welcome Schenker and Swedwood to Prologis Park Szczecin. As a modern, high-quality distribution park with excellent transport connections, it is strategically located to serve our customers’ regional distribution needs.

“The park’s location close to Swedwood’s factory allows the company to minimise transportation costs between the two sites, while reducing its environmental impact in-line with its approach to sustainability.”

With these new leases, the facility at Prologis Park Szczecin – which is owned by Prologis European Logistics Partners (PELP) – is 100 percent leased. The four leasing renewals comprise:

“Thanks to these recent new leases and renewals, Prologis can boast an above average occupancy rate of 88.3% in Poland. The lack of good quality industrial space in the market also means we are seeing rental growth in-line with expectations,” he added.

Prologis is the largest owner and operator of distribution facilities in Poland with a portfolio totaling more than 1.9 million square metres (as of 31 March 2013).