Prologis summarizes operational activity in Europe in the second quarter of 2023
Prologis summarizes operational activity in Europe in the second quarter of 2023. The summary includes the most important operational results and selected key achievements of Prologis in this region.
"Our European portfolio continues to enjoy high demand. We recorded an occupancy rate of 98.2% and rent growth of over 26% across the 12 markets where we operate. Thanks to our scale and size, we continue to support our customers on their path to decarbonization through our Essentials platform. We offer solutions such as solar energy and storage, fleet electrification, or workplace vehicle charging, enabling them to focus on growing their business. These capabilities, combined with the solid land bank we possess, ensure Prologis continuous long-term growth." - Ben Bannatyne, President of Prologis Europe
Operational activity in the second quarter of 2023 – Europe:
Total size of the Prologis portfolio in Europe: 22.3 million sqm*
Leased space in the second quarter: 837,884 sqm, including:
new lease agreements - 230,821 sqm
renewed lease agreements - 607,063 sqm
Occupancy rate: 98.2%
Change in rent level in the second quarter: 32.6%**
Operational activity in the second quarter of 2023 – Central Europe and Poland
Total size of the Prologis portfolio in Europe: 4.89 million sqm*
Leased space in the second quarter: 382,597 sqm, including:
new lease agreements – 81,235 sqm
renewed lease agreements – 243,807 sqm
Occupancy rate: 98.1%
Total size of the Prologis portfolio in Poland: 2.3 million sqm*
Leased space in the second quarter: 197,788 sqm, including:
new lease agreements – 34,323 sqm
renewed lease agreements – 18,399 sqm
Occupancy rate: 97.1%
*Includes operational, development, properties held for sale and other, as well as acquisitions and value-added conversions (VAA/VAC)
** Rent change is linked to the date of signing the lease agreement.
Key lease agreements:
30,969 sqm for an aviation industry 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 sqm for a leader in e-commerce delivery solutions at Prologis Park Wrocław DC5B in Poland;
17,439 sqm 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 across 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 sqm 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.
Acquisition transactions
In the second quarter of 2023, Prologis Europe acquired three buildings with a total area of 32,601 sqm in the UK and Italy, and two plots of land with a total area of 122,377 sqm in the UK.
Sales transactions
In the second quarter, Prologis Europe sold one building with an area of 13,670 sqm in the Netherlands.
source: press materials
