Prologis Europe sees 96.7% occupancy in Q4
Budapest was among the markets where global real estate firm Prologis experienced the strongest interest from customers in the fourth quarter of last year, according to a press statement sent to the Budapest Business Journal today. Prologis Europe ended the fourth quarter with 96.7% occupancy, an increase of 90 basis points over the course of 2016.
The company signed new leases and renewals totaling 718,200 square meters in the fourth quarter and 3.5 million square meters in the full year 2016 – an increase in volume of 54% over 2015.
Markets with the strongest interest from customers in the fourth quarter included Prague, Budapest and Bratislava in Central and Eastern Europe; the United Kingdom, Germany and the Netherlands in Northern Europe; and Lyon, Le Havre, Barcelona and Valencia in Southern Europe.
At quarterʼs end, the company owned or had investments in, on a wholly-owned basis or through co-investment ventures, properties and development projects totaling 17.0 million square meters in Europe.
Ben Bannatyne, president of Prologis Europe, said that “2016 was our strongest year yet for leasing, which contributed to our highest-ever occupancy in Europe.”
“In spite of political shocks, customers remain focused on the long term and sentiment remains positive. This has fueled broad-based demand, led by the general retail and automotive sectors. With strong operating fundamentals and increasingly attractive yields, we anticipate another period of strong growth in the year ahead,” Bannatyne added.
According to its website, Prologis is the largest provider of industrial real estate in Europe, operating in more than 40 markets in 13 countries across the continent and the United Kingdom.
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