Prologis, the global leader in industrial real estate, today announced that Prologis European Properties Fund II (“PEPF II”) has acquired two logistics facilities in Poland and Hungary.
The properties total more than 1 million ft² (94,200 m²) andare 100% leased. They include: A 610,000 ft² (56,700 m²) building in Gliwice, Poland. The facility is occupied by Tesco, a multinational grocery retailer and repeat customer. The property has immediate access to two trans-European road networks, enabling efficient transportation of goods, and a 404,000 ft² (37,500 m²) building in Budapest, Hungary, occupied by Auchan, a global retailer and repeat customer. The facility is located near the city’s international airport, approximately 20 miles from Budapest city center.
“These properties are excellent additions to our portfolios in Poland and Hungary,” said Ben Bannatyne, managing director, Prologis Central & Eastern Europe. “Both are in key locations along major commercial routes that are growing in importance due to an increase in intra-regional trade in Central and Eastern Europe.”
Prologis owns and manages approximately 152 million ft² (14.1 million m²) of logistics and distribution space in Europe as of March 31, 2014.