Prologis Decreases the Vacancy Rate in its Warsaw Portfolio

Prologis, Inc., the leading global owner, operator and developer of industrial real estate, has announced that in Q3 it signed three new lease agreements totalling approximately 31,000 square metres in two distribution parks in the Warsaw area.

The new lease agreements include:

·        18,400 square metres leased to Tradis in Building 1atPrologis Park Błonie II.Tradis,part of the Eurocash Group, is a Poland-wide distribution company specialising in food, chemicals and cosmetics.Tradis already leases 65,600 square metres from Prologis in Poland.

·        11,100 square metresleased to Schenker Sp. z o.o. in Building 2 at Prologis Park Nadarzyn.SchenkerSp. z o.o. provides the full range of logistic services across Europe. Glob Nieruchomości real estate agency was the leasing agent for this transaction;

·        1,300 square metre extension for the company in the service industry at Prologis Park Błonie. The companycurrently occupies 25,200 square metres in the park.

“Taking into account the competitive industrial real estate market in Warsaw, we are delighted to sign these new lease agreements,” said Bartosz Mierzwiak, vice president & market officer for Prologis in Poland. “Despite supply exceeding demand in the Warsaw area, our unrivalled focus on meeting the needs of our customers has helped us decrease the vacancy rate in our Warsaw portfolio from 24.3 per cent in Q2 2012, to 15.7 per cent in Q3.”

The Prologis portfolio in the Warsaw area comprises 700,000 square metres across seven distribution parks in Warsaw, Janki, Nadarzyn, Błonie, Teresin and Sochaczew.Prologis is the market leader in logistics and distribution facilities in Poland, offering more than 1.9 million square metres of space across 22 distribution parks (as of June 30, 2012).