Logistics real estate company Prologis, Inc. has announced the sale of Prologis Park Hegyeshalom in Hungary to Horváth Rudolf Intertransport Ltd., a Hungarian logistics services provider.
The transaction includes a fully leased Class "A" logistics facility totaling 32,300 square meters and 24 hectares of land, a press release sent to the Budapest Business Journal says.
Prologis Park Hegyeshalom is the first Class "A" logistics park in northwestern Hungary, in the so-called “magic triangle” that comprises the Hungarian, Austrian and Slovak borders. The park has easy motorway access to Bratislava (M15), Vienna and Budapest (M1).
“Our strategy is to focus on high-barrier markets that show strong demand amid low vacancy,” said László Kemenes, senior vice president and country manager of Prologis Hungary. “In line with this principle, we will continue to focus on core locations in the greater Budapest area.”
JLL represented Prologis in the deal, while Deloitte advised Horváth Rudolf.
Prologis has been advised on legal matters by Noerr, which provided full-scale legal advisory services.