Prologis launches development of speculative facility in Hungary

Sights

press release

Real estate developer Prologis launched the development of a 21,000 sqm speculative facility at Prologis Park Budapest-Sziget, the company announced today. The facility will be the first speculative logistics building in the Hungarian market since 2008, Prologis said.

The development of the new facility, Building 7, is expected to be finished by the third quarter of this year. Once completed the building will include a pioneering docking system with 46 docks and three drive–in gates, reflecting the commitment of Prologis to environmental stewardship by guaranteeing energy efficiency and cost-effective operations, the company said.

“This facility will offer Prologis’ customary exceptional property management for our customers and deliver practical solutions, thus combining local expertise with global best practices,” said László Kemenes, senior vice president and country manager, Prologis Hungary. “In addition to the increasing rents at Prologis Park Budapest-Sziget, a 98% occupancy of our Hungarian portfolio and high customer retention rates together give us the confidence to carry out this development.”

Prologis Park Budapest-Sziget currently comprises six buildings totaling 128,000 sqm of industrial space with the capacity for 15,000 sqm of additional development, Prologis said. The park is located in the industrial zone of Szigetszentmiklós, in a submarket of Budapest, which provides direct access to the national and international road network via the M0 Budapest ring road.

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