Prologis European Properties Fund II (PEPF II) has acquired the M0 Central Business Park in Hungary from IDI Gazeley, adding 31,443 square meters of distribution space to the Hungarian portfolio of Prologis, according to a press statement sent to the Budapest Business Journal today. Commercial real estate services firm JLL facilitated the transaction.
The 100% let facility will become part of the adjoining 98% let Prologis Park Budapest-Sziget, which currently comprises seven buildings totaling 150,000 square meters.
The park is southeast of Budapest in the sought-after industrial zone of Szigetszentmiklós, which has direct access to national and international road networks via the M0 ring road. Customers of the newly acquired facility include Easi Uplifts, FM Logistic, Quality Logistics Management, United Performance Metals CEE, and UTi Hungary.
“Szigetszentmiklós is a core location for us in the Budapest market, and we have seen strong leasing activity there over the past 18-24 months,” said László Kemenes, senior vice president and country manager at Prologis Hungary. “This acquisition gives us full control of the park, and we anticipate that it will provide a new opportunity for us to create additional value in the future.”