SAN FRANCISCO—Prologis, Inc. says its Prologis European Properties Fund II ("PEPF II") has acquired two logistics facilities in Poland and Hungary.
The properties total more than one million square feet (94,200 square metres) and are 100% leased.
They include:
-- A 610,000 square foot (56,700 square meter) building in Gliwice, Poland. The facility is occupied by Tesco, a multinational grocery retailer and repeat customer. The property has immediate access to two trans-European road networks, enabling efficient transportation of goods; and
-- A 404,000 square foot (37,500 square meter) building in Budapest, Hungary, occupied by Auchan, a global retailer and repeat customer. Then facility is located near the city's international airport, approximately 20 miles from Budapest city center.
"These properties are excellent additions to our portfolios in Poland and Hungary," said Ben Bannatyne, managing director, Prologis Central & Eastern Europe. "Both are in key locations along major commercial routes that are growing in importance due to an increase in intra-regional trade in Central and Eastern Europe."
Prologis owned and managed approximately 152 million square feet (14.1 million square meters) of logistics and distribution space in Europe as of March 31.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
