The transactions comprise:
• 10,763 square metres in Building 5 to BOY, a 23-year old Hungarian logistics company;
• 2,560 square metres in Building 5 to Javépcoop, a 15-year old Hungarian logistics services provider;
• 1,529 square metres of additional space in Building 4 to Essentra Filter Products, the world’s leading independent solutions provider and partner for special filters and scientific services to the tobacco industry. The company now occupies a total of 12,740 square metres in the building.
“We are delighted to welcome new clients to the prime location of Prologis Park Budapest-Sziget,” said László Kemenes, vice president for Prologis in Hungary. “With these transactions Building 5 is fully occupied, and the overall occupancy level of Prologis’ Hungarian portfolio has increased to 86 percent, well above the Hungarian market average of 77 percent.”
Prologis Park Budapest-Sziget comprises seven buildings totalling more than 120,000 square metres of distribution space, and has a further 50,000 square metre that could be developed. The park is adjacent to the M0 Motorway, offering fast and efficient access to the international airport and the Hungarian motorway network.
Other clients in the park include NCR, Quadrant, Trans-Sped, Schneider-Electric, UTi and ADR Logistics.
Prologis' portfolio in Hungary totals more than 490,000 square metres of industrial space and includes five parks in the Budapest region (Gyál, Harbor Park, Százhalombatta, Szigetszentmiklós, Budaörs) and one in Hegyeshalom. With a regional portfolio totalling more than 3.6 million square metres, Prologis is the leading provider of distribution facilities in Central & Eastern Europe (as of 30 September, 2013).
Vice President, Marketing & Communications
Prologis Central & Eastern Europe
Direct: +48 22 218 36 56
Direct: + 48 605 073 929
Prologis, Inc., is the leading owner, operator and developer of industrial real estate
, focused on global and regional markets across the Americas, Europe and Asia. As of Sept. 30, 2013, Prologis owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 52.2 million square meters in 21 countries. The company leases modern distribution facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises.
The statements in this release 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 developed properties, disposition activity, general conditions in the geographic areas where we operate, synergies to be realized from our recent merger transaction, our debt and financial position, our ability to form new property funds and the availability of capital in existing or new property funds — 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 release.