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Prologis reports 89.5% occupancy rate in CEE properties

Industrial

International real estate owner/developer Prologis, Inc. yesterday released some statistics on company activity in 2013, starting with the 1.15 million square meters in industrial distribution space in the Central Eastern Europe region.

 In 2013, Prologis renewed 595,000 square meters’ worth of leases while signing into being contracts on 363,000 sqm in new rentals; further, the company reported an overall 89.5% occupancy rate for its CEE properties.

Significant new facilities reaching completion (and subsequent leasing) in the past year include four properties in Poland, headlined by over 71,000 sqm for three customers at the company’s own Prologis Park in Wrocław.

As for 2014, Prologis Central & Eastern Europe managing director Ben Bannatyne promised that “We will continue focusing on increasing occupancy within our current portfolio, as well as monetising our existing land bank in core markets such as Poland, the Czech Republic, Slovakia, Hungary and Romania, in line with our investment strategy.”

Prologis is considered the CEE market leader in distribution facilities, with over 3.6 million sqm owned in five countries.

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