Prologis summarizes European operations in second quarter of 2023

Prologis summarizes its operating activities in Europe, in the second quarter of 2023. The summary includes key operating results and selected key achievements of Prologis in the region.

"Our European portfolio continues to enjoy strong demand. We reported an occupancy rate of 98.2% and rental growth of more than 26% in the 12 markets where we operate. With our scale and size, we continue to support our customers on their journey to decarbonization with our Essentials platform. We offer solutions such as solar energy and storage, fleet electrification, and on-site vehicle charging, enabling them to focus on growing their business. These capabilities, combined with the solid land bank we have, ensure Prologis' continued long-term growth." - Ben Bannatyne, president of Prologis Europe

Operating activity in the second quarter of 2023 - Europe:
Total size of Prologis' portfolio in Europe: 22.3 million sq.m.*
Leased space in the second quarter: 837,884 sqm, including:
new leases - 230,821 sq. m.
submitted leases - 607,063 sqm.
Occupancy rate: 98,2%
Rent change in the second quarter: 32.6 %**

Operating activity in the second quarter of 2023 - Central Europe and Poland  
Total size of Prologis' portfolio in Europe: 4.89 million sq.m.*
Leased space in the second quarter: 382,597 sqm, including:
new leases - 81,235 sq. m.
submitted leases - 243,807 sqm.
Occupancy rate: 98,1%

Total size of Prologis' portfolio in Poland: 2.3 million sqm*.
Leased space in the second quarter: 197,788 sqm, including:
new leases - 34,323 sqm.
submitted lease agreements - 18,399 sqm.
Occupancy rate: 97,1%

*Includes operations, development, properties for sale and others, as well as value-added acquisitions and conversions (VAA/VAC).
** The change in rent is linked to the date the lease agreement is signed.

Key leases:
30,969 sqm for an aerospace giant at Prologis Park Hamburg Waltershof DC7 in Germany;
20,163 sqm for Internationaal Transportbedrijf De Vries & Zn. at Prologis Park Veghel DC1 in the Netherlands;
19,282 sq. m. for a leader in e-commerce delivery solutions at Prologis Park Wrocław DC5B in Poland;
17,439 sq. m. for CAIRN Logistique at Prologis Park Isle d'Abeau DC20 in France;
15,083 sqm for Stamhuis Retail Services at Prologis Park Utrecht DC2 in the Netherlands.

Investments in the second quarter of 2023.
In the second quarter of 2023, construction began on a total of 103,720 sqm at six locations in Europe.
37,366 sqm at Prologis Park Castlenuovo DC1 in Italy;
23,281 sqm at Prologis Park Bratislava DC16BC in Slovakia;
15,465 sqm at Prologis Park Pilsen II DC2 in the Czech Republic;
12,755 sq. m. at Prologis Park Wrocław V DC10 in Poland;
7,778 sqm at Prologis Park Castlemaggiore DC1 in Italy;
7,075 sqm at Prologis Park Sant Boi Dc7 in Spain.

Purchase transactions
In the second quarter of 2023, Prologis Europe acquired three buildings totaling 32,601 sqm in the UK and Italy, and two pieces of land totaling 122,377 sqm in the UK.

Sales transactions
In the second quarter, Prologis Europe sold one building of 13,670 sqm in the Netherlands.

source: press materials