Strong Customer Demand At Prologis Hungarian Parks Continues

Prologis, Inc., the global leader in industrial real estate, today announced six new lease agreements totalling nearly 98,000 square metres at five parks in Hungary.

The transactions in Hungary include:
• 27,800 square metre lease renewal with Geodis, a leading global supply chain operator, at Prologis Park Budapest-Budaörs;
• 24,800 square metre lease renewal with Schneider Electric, a global specialist in energy management and automation, at Prologis Park Budapest-Sziget;
• 16,000 square metre new lease with a global leader in design, manufacturing, distribution and aftermarket services, the first new customer at Prologis Park Budapest M1 since its acquisition;
• 12,300 square metre lease renewal with a global healthcare leader at Prologis Park Budapest-Harbor;
• 10,700 square metre lease renewal with LGI Logistics Group International GmbH, a global logistics service provider, at Prologis Park Budapest M1;
• 6,000 square metre expansion with a leading logistics provider at Prologis Park Budapest-Batta, where the customer now leases 28,600 square metres in total.
“As leasing activity gradually increases in the Hungarian market, these transactions demonstrate that there
is strong demand for our high-quality buildings and services not only from our existing customers, which provides
a solid basis for our operation in Hungary, but also from new customers. We are firing on all cylinders,” said László Kemenes, senior vice president and country manager for Prologis in Hungary. “The excellent performance of our parks in Hungary reflects the efforts of our professional leasing and customer relations teams, as well as the outstanding quality and location of our parks.”
Prologis is the leading provider of industrial space in Hungary with a portfolio of 612,000 square metres in six parks (as of December 31, 2015).