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Prologis inks leases for a total of 98,000 sqm in Hungary

Global industrial real estate developer Prologis signed six lease agreements amounting to 98,000 sqm in five of its parks in Hungary – a move which signals a continuously rising demand –the company said today.

Prologis Park in Budaörs.

The recent transactions include a lease renewal with Geodis for 27,800 sqm in Prologis Park Budapest-Budaörs; a renewal with Schneider Electric for 24,800 sqm in Prologis Park Budapest-Sziget; a new lease with a global leader in design, manufacturing, distribution and aftermarket services for 16,000 sqm in Prologis Park Budapest M1; a renewal with a global healthcare leader for 12,300 sqm in Prologis Park Budapest-Harbor; a renewal with LGI Logistics Group International GmbH for 10,700 sqm in Prologis Park Budapest M1; and an expansion with a leading logistics provider of 6,000 sqm in Prologis Park Budapest-Batta, where the customer now leases 28,600 sqm in total, according to the Prologis announcement.

“As leasing activity gradually increases in the Hungarian market, these transactions demonstrate that there is strong demand for our high-quality buildings and services not only from our existing customers, which provide a solid basis for our operation in Hungary, but also from new customers. We are firing on all cylinders,” said László Kemenes, senior vice president and country manager for Prologis in Hungary. “The excellent performance of our parks in Hungary reflects the efforts of our professional leasing and customer relations teams, as well as the outstanding quality and location of our parks”, Kemenes added.

Prologis is the leading provider of industrial space in Hungary with a portfolio of 612,000 sqm in six parks, as of December 31, the press release said.