Prologis Leases 26,000 Square Metres in Hungary

Prologis Inc., the leading global owner, operator and developer of industrial real estate, announced today that it has extended lease agreements in Budapest.

The two transactions, totalling more than 26,000 square metres of distribution space, include:

•    14,530-square-metre lease renewal to Iron Mountain, a world leader in information management services, at Prologis Park Budapest-Gyál. The customer has expanded its space by an additional 3,060 square metres. Prologis Park Budapest-Gyál is a prime logistics location on the southwest side of Budapest on the junction of the M5 motorway and the M0 ring, providing easy access to the motorway network and the international airport.

•    8,580-square-metre lease extension to Lekkerland, a leading wholesaler for food and non-food convenience products, at Prologis Park Budapest-Harbor. The state-of-the-art industrial park is located on the southern border of Budapest, 12 kilometres south of the central business district. The park is adjacent to the Danube River and the M6 motorway, which connects with Budapest’s M0 ring road less than 2.5 kilometres from the park.

“We continue to see customer interest in our modern, high-quality industrial portfolio throughout Central and Eastern Europe,” says László Kemenes, market officer for Prologis in Hungary and Romania. “The distribution park is in a prime location and it has been popular with our customers as they streamline their distribution networks in Hungary.”

Prologis’ portfolio in Hungary totals more than 495,000 square metres of warehouse space and includes six parks located in the greater Budapest area (Gyál, Harbor Park, Százhalombatta, Szigetszentmiklós, Budaörs) and Hegyeshalom. With a portfolio totaling 3.7 million square metres located at 41 distribution parks, Prologis is the leading provider of industrial facilities in Central and Eastern Europe.