Strong Customer Demand At Prologis Hungarian Parks Continues
BUDAPEST (February 1, 2016) – 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).
Prologis, Inc. is the global leader in industrial real estate. As of September 30, 2015, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 670 million square feet (62 million square meters) in 21 countries. The company leases modern distribution facilities to more than 5,200 customers, including third-party logistics providers, transportation companies, retailers and manufacturers.
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis operates, management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly impact Prologis’ financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of properties, disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust (“REIT”) status and tax structuring, (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures and funds, including our ability to establish new co-investment ventures and funds, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by Prologis under the heading “Risk Factors.” Prologis undertakes no duty to update any forward-looking statements appearing in this document.
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