PEPR improves occupancy in Central Europe with new leases over 23,100 m² (CZ)

ProLogis European Properties (Euronext: PEPR), one of Europe's largest owners of modern distribution facilities, has announced that it has signed two new lease agreements covering 23,100 m² in Prague, Czech Republic.

The first lease is with DHL Solutions, a leading global provider of third-party logistics services and subsidiary of Deutsche Post DHL, in ProLogis Park Prague. DHL is extending its lease for 13,500 m² of space to December 2011 with no lease break options.

Raben Logistics Czech, part of Raben Group, one of the leading logistics operators in Central and Eastern Europe, has leased 9,600 m² of previously vacant space in ProLogis Park Prague for four years.

"These lease agreements, at market rents, continue the positive momentum achieved to date and reflect our focus on maximising portfolio occupancy," said Simon Nelson, head of asset management of PEPR. "The quality of the PEPR portfolio together with our local market knowledge enable us to respond quickly to continuing demand from occupiers for well-located, high-quality logistics space."

ProLogis Park Prague (D1 West & D1 East) is located approximately 11 km southeast of Prague at the Ricany/Jesenice junction, directly off the major D1 Motorway. This location permits travel to Prague city centre within 15 minutes and Brno within 1 hour 30 minutes.

The transactions were completed on behalf of PEPR by ProLogis, manager of the PEPR portfolio.

Source: M:Communications

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