ProLogis Czech Republic reports 240 percent year-on-year lease growth in the half-year results

ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today a summary of its leasing activity in the Czech Republic for the first half of 2010. Between January 1 – June 30, 2010, ProLogis has successfully leased a total of 134,200 square meters of distribution space for which new lease agreements alone stood for more than 75,000 square meters of the total.

This half year result compared to 2009 for the same period, represents a 240 percent growth. ProLogis Park Pilsen-Stenovice recorded the largest number of new lease deals for this period with more than 49,000 square meters let to new customers (Eurogate and Sony DADC) at the park. Thanks to these new leases in ProLogis Park Pilsen-Stenovice, the park is now 97 percent let.

“Since the start of the year, we have been witnessing a sedate pace of market stabilisation linked to a gradual economic revival,“ said Mario Sander, ProLogis‘ market officer for Czech Republic and Slovakia. „This trend has positively influenced the number of newly concluded leasing contracts, and has led us to extend current leases with our existing customers. By meeting our customer needs and requirements, I believe our half-year results are an accurate reflection of our core strategy.“

ProLogis‘ portfolio in the Czech Republic comprises six distribution parks (26 buildings) totaling more than 600,000 square meters of warehouse and office space.