Prologis to Develop Two Facilities Totaling 578,000 Square Feet in Europe

SAN FRANCISCO, June 23, 2014 — Prologis, Inc. (NYSE: PLD), the global leader in industrial real estate, today announced it will develop two logistics facilities in Central & Eastern Europe totaling 578,000 square feet (53,700 square meters).

The developments, both expected to be complete in the fourth quarter, include:

  • A 323,000 square foot (30,000 square meter) facility at Prologis Park Prague Airport in the Czech Republic. The park, proximate to Prague’s international airport, has land capable of supporting an additional 1.1 million square feet (102,000 square meters) of logistics space; and
  • A 255,000 square foot (23,700 square meter) facility at Prologis Park Bratislava in Slovakia. The building is nearly 40 percent pre-leased to Geis Group, a global, full-service logistics provider. The park is currently 100 percent leased.

“These new developments will provide high-quality logistics facilities in two growing markets,” said Philip Dunne, president, Prologis Europe. “The facilities are located in key distribution areas and will support our customers’ supply chain needs in the region.”

Prologis owns and manages approximately 152 million square feet (14.1 million square meters) of logistics and distribution space in Europe as of March 31, 2014.

Prologis, Inc., is the leading owner, operator and developer of industrial real estate, focused on global and regional markets across the Americas, Europe and Asia. As of March 31, 2014, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 574 million square feet (53.3 million square meters) in 21 countries. The company leases modern distribution facilities to more than 4,700 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.

West Coast Commercial Real Estate News