Prologis widens portfolio with 16,000-sqm Prague acquisition

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Already market leader in Central and Eastern Europe industrial real estate development, Prologis Inc. today just got bigger with the acquisition of the 16,000-square meter logistics facility Prague Modletice D1 from Czech Republic-based Centaurus Logistics S.á.r.l.

With the purchase, the logistics park was renamed Prologis Park Prague D1.

Upon formally announcing the acquisition, Prologis CEE managing director Ben Bannatyne called the park “a key addition to our portfolio, as there is no large industrial space available in this vicinity.” He added that “we are seeing demand from existing [occupants] who are asking for expansion possibilities within our portfolio. This area is the most popular and active submarket in Prague and during the last nine months, Prologis has seen a strong increase in activity."

Prologis is already touting Park Prague D1 as ideally positioned as a Central European hub with its location 15 minutes outside of Prague and 20 minutes from the international airport.

Prologis’ portfolio in the Czech Republic now comprises 650,000 square meters in seven logistics parks.

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