A tale of concurrent development
Over the next six months, Prologis will achieve the unprecedented feat of delivering developments in each of the four countries in its Central and Eastern European (CEE) region.
The ability to bring to market nine modern, sustainable buildings in the Czech Republic, Hungary, Poland and Slovakia, on time and on budget, is further evidence that where others see challenge, we embrace opportunity.
Vacancy rates are at historically low levels in the CEE region, there are a limited number of state-of-the-art premises available in the most in-demand locations and demand for high-quality facilities showing little sign of abating. This means it is essential we keep building premises in high-barrier, high-growth markets that flexibly meet the needs of our customers over the longer term. Prologis currently has nine logistics facilities under construction in CEE totaling around 200,000 square meters of space.
In the Czech Republic, Prologis will complete the first speculative development at its new Prologis Park Brno – the 27,860 square meter Building 2. Construction of two more developments is also set to finish at Prologis Park Prague-Airport. These comprise Building 3, a mix of speculative and pre-let totaling 38,617 square meters, and Building 2B, a build-to-suit (BTS) facility covering 9,500 square meters. Once these two facilities are delivered, Prologis Park Prague-Airport will be fully developed.
In Poland, we will complete a 16,500 square meter speculative facility at Prologis Park Lodz, which is the most desirable logistics location in all of CEE according to Prologis and eyefortransport research. We will also deliver a 13,300 square meter small business unit (SBU) at Prologis Park Poznań III and a 15, 600 square meter speculative facility at Prologis Park Wrocław V.
In Slovakia, we will deliver the first two speculative facilities totaling 63,423 square meters at our new Prologis Park Nitra, located next to Jaguar Land Rover factory.
And in Hungary, we are building a 10,600 square meter speculative facility at Prologis Park Budapest-Harbor, which will be available for our customers in March 2019. Building 12 at the park will be the first BIM (Building Information Modelling)-designed logistics facility in Prologis CEE portfolio.
“To meet the challenges in today’s logistics market requires superior planning and execution. Our ability to manage nine projects spread across multiple markets while adhering to strict timeframes is a prime example of what sets us apart from our competitors,” says Martin Polak, managing director, regional head, CEE.
To simultaneously develop nine buildings, at seven parks, in four countries, we’ve been able to rely on the experience, knowhow and energy of our employees, who work together every day to turn focused strategy into market-leading performance.