ProLogis, a leading global provider of distribution facilities and services, announced yesterday its first acquisition of real estate in the Czech Republic. The park, located near Prague, consists of five facilities totalling more than 80,000 m2 of distribution space and was acquired from AIG/Lincoln Development. Jones Lang LaSalle represented ProLogis in the acquisition.
Formerly known as the D1 Logistics Park, ProLogis Park Prague is comprised of two areas, D1 West and D1 East. The acquisition includes three facilities totaling 41,478 m2 in D1 West and two facilities consisting of 39,555 m2 in D1 East. Due to heavy customer demand, ProLogis began construction of a 26,000 m2 facility on adjacent land that the company expects will be occupied by February 2003. The park can accommodate an additional 80,000 m2 of future development on an additional 14.9 hectares of land.
'ProLogis has been very active in Central Europe this year; currently we have six parks operational in Poland and another park recently opened in Hungary,' said Hans van Luijken, first vice president of Central Europe for ProLogis. 'ProLogis Park Prague will provide a prime location for customers that need to distribute goods throughout Central Europe. With a large amount of undeveloped land, we now have the ability to serve the increased demand for high-quality distribution space in the Czech Republic.'
Ben Bannatyne of Jones Lang LaSalle stated, 'ProLogis Park Prague is one of the most successful distribution centers in the Czech Republic. There is a steady and strong demand for this product due to its proximity to Prague and efficiency of warehouse space. We believe this is an excellent opportunity for ProLogis to establish themselves in the Czech market and to continue attracting major distributors.'
ProLogis Park Prague is located adjacent to the D1 Highway, approximately 10 miles (16 kilometers) southeast of Prague. The site provides access to Prague City Center within 15 minutes, Brno within 90 minutes and Ostrava in less than four hours, acting as a key gateway to the greater Czech Republic. Customers in the park include Bruhn Transport, Schniedersohne and Rossman, and existing ProLogis customers Danzas, Hellman Worldwide Logistics and LÂ'Oreal.