PROLOGIS LEASED 511,000 SQUARE METRES OF SPACE IN POLAND

ProLogis (NYSE: PLD), the leading global provider of distribution facilities, summed up the first nine months of 2010 in Poland. From January 1 to September 30, 2010 the company leased more than 511,000 square metres of modern office and warehouse space in ProLogis logistics parks in Poland, which is an increase of 129 percent as compared to the same period of last year.

In the third quarter of 2010 alone, ProLogis leased nearly 160,000 square metres of warehouse space in Poland. New clients have occupied 75,600 square metres – an increase of 315 percent as compared to the same period of 2009.

Major new lease agreements signed in the third quarter of 2010 in Poland
 

In the third quarter of 2010, ProLogis extended lease agreements for more than 84,000 square metres of modern warehouse space – an increase of 81 percent as compared to the same period last year.

Lease extensions in Poland – major transactions in the third quarter of 2010

“The consistent growth in both the number and volume of lease agreements signed by ProLogis this year is a gleam of recovery in the warehouse / industrial market,” said Ben Bannatyne, ProLogis managing director of Central and Eastern Europe, commenting on the company’s achievements. “Although in certain submarkets rental levels remain under pressure due to an oversupply of vacant space (eg Blonie), in general we are seeing rental levels stabilize. In a couple of markets we start to see an increase in rents due to the lack of available stock.”

According to CB Richard Ellis*, 1.07 million square metres of warehouse space was leased in Poland during the first three quarters of 2010. It means that ProLogis has maintained its leadership position and its market share is now 48 percent in terms of the leased warehouse space.

With a portfolio of about 2.1 million square meters of space in 105 buildings at 25 distribution parks, ProLogis is a leading provider of warehouse facilities in Poland.