Prologis European operations report steady progress during the second quarter of 2012

Prologis, Inc., the leading global owner, operator and developer of industrial real estate, today announced solid results in its European operations for the second quarter of the year.

Leasing activity for the quarter comprised approximately 615,000 square metres,including:

·          a 20,400 square metre build-to-suit expansion at Prologis Park Hunxe in Germany, for one of the country’s largest providers of third-party logistics;

·          a 17,500 square metre new lease at Prologis Park Pilsen-Stenovice near Prague in the Czech Republic with a renowned electronics provider, who already leases 18,000 square metres at the same park; and a

·          20,500 square metre lease extension with UTi Hungary Logistics LLC at Prologis Park Budapest-Sziget.

During the second quarter of 2012 the company commenced two new build-to-suit developments in the U.K. and Germany comprising approximately 23,000 square metres.

In Spain, Prologis acquired three fully-leased facilities in Spain, totaling circa 62,000 square metres in Granada del Penedes Village, a prime submarket proximate to Barcelona.

In addition, Prologis completed the sale of approximately 29,000 square metres of buildings in Germany. Prologis also completed the sale of approximately 99 hectares of non-core land in the U.K. and Germany. 

“We are very pleased with the results for the second quarter, which reflect our continued ability to meet our customers’ growing needs for high-quality logistics facilities in core strategic locations,” said Philip Dunne, President, Prologis Europe.

“We remain committed to our long-standing customer relationships, leveraging our strategically-located platform, ready to go land bank and development teams in all of our major markets which allows us to maintain the market leading position that we have held for more than a decade. By remaining laser-focused on quality, we seek to ensure the continued success of all our key stakeholders, from customers to investors,” Dunne added.