Prologis activity in Europe and Central Europe in the fourth quarter and the full year 2022

Prologis Europe & Central Europe summarizes its operational activity in the fourth quarter and the full year 2022.
“2022 was a record year for us. Our record transaction and portfolio acquisition in the largest European cities allowed us to provide our customers with premium-class warehouse facilities and Essentials solutions – wherever they are needed most and fully adapted to the expectations of the users. We remain focused on our customers and a partnership approach, which is essential for them to grow their business. Our financial position and innovative solutions, especially those related to the energy industry, enable us to meet the rapidly changing needs of our customers.” – says Ben Bannatyne, President of Prologis Europe.

The Prologis portfolio in Europe has grown to 22.3 million sqm, while the leased space in Q4 2022 was 622,416 sqm, including new lease agreements - 154,961 sqm, and lease renewals - 467,4557 sqm.
The change in rent levels in Q4 increased by 18%, and the occupancy rate in 2022 was 98.7%. The leased space in the full year 2022 was 3,451,415 sqm, including new lease agreements of 849,493 sqm, and lease renewals - 2,601,922 sqm. 

The total size of the Prologis portfolio in Central Europe for the full year 2022 is 4,704,974 sqm, and the occupancy rate in the fourth quarter is 97.5%.

In Poland, the total size of the Prologis portfolio in 2022 is 2,290,036 sqm, and the occupancy rate in the fourth quarter is 96.4%. The leased space in the fourth quarter is 86,848 sqm, including new lease agreements of 23,907 sqm, and lease renewals - 62,941 sqm. 

In 2022, Prologis started the implementation of 31 investments with a total net leasable area of 747,673 sqm, including 10 built-to-suit facilities with an area of 159,370 sqm (which have already been fully leased) and 21 speculative facilities with a total area of 588,303 sqm. In Central Europe, Prologis started the construction of 9 facilities with a total area of 180,091 sqm (three investments in Slovakia, three in Poland, two in the Czech Republic, and one in Hungary).

Across Europe, Prologis acquired a total of 165 buildings with an area of 1,636,677 sqm and 21 plots with a total area of 1,311,980 sqm this year, and sold 4 buildings and 6 plots with a total area of 82,758 and 677,644 sqm respectively.

"In 2022, we expanded our portfolio by a record 1,636,677 sqm through key acquisitions and new investments in 12 markets in Europe. This gives us even greater opportunities to meet the growing demand of our customers for premium-class space, especially in dynamically developing markets with high barriers to entry. In line with our investment and operational strategies, we are constantly introducing innovations that go beyond the traditional commercial real estate offer. The Prologis Essentials platform provides next-generation solutions that allow our customers to meet some of the most significant challenges in terms of operational activity, energy, sustainability, mobility, and workforce. The results from the fourth quarter of 2022 and data from the Rent Index allow us to start 2023 with moderate optimism. We maintain cooperation with our customers and local teams to address the challenges associated with the ongoing restructuring of global supply chains.” – says Ben Bannatyne, President of Prologis Europe.

source: Prologis press materials, photo: Prologis press materials