First quarter 2023 activity: Prologis in Europe and CE

Prologis Europe is pleased to share this recap of its first quarter 2023 activity. This summary includes operating performance highlights and insights into select milestones and achievements.

Ben Bannatyne, President, Prologis Europe:
“Demand for high quality, tailored and sustainable logistics space continues to be strong with an occupancy of 98.6% in the past quarter across the 12 European markets we operate in. Given the macroenvironment, we continue to operate our business with a degree of caution. Our very strong balance sheet continues to provide flexibility to capitalise as opportunities arise, strengthening our built-for-the-future approach to stay ahead of our customers’ needs.”

Operating Performance Europe – First Quarter 2023:

• Total portfolio: 22.3 million square metres*
• First quarter total leasing activity: 1,027,535 square metres:
  • 256,690 square metres new leases
  • 770,845 square metres renewals
• Rent change: 26.5 %**

Operating Performance Central Europe, Czech Republic and Slovakia:

• CE Total portfolio: 4.73 million square metres*
• First quarter total leasing activity: 328,225 square metres:
  • 43,469 square metres new leases
  • 191,176 square metres renewals

• Czech Republic Total portfolio: 1.35 million square metres*
• First quarter total leasing activity: 78,832 square metres:
  • 5,859 square metres new leases
  • 19,368 square metres renewals
  • 53,605 square meters of short terms

• Slovakia Total portfolio: 457,087 square metres*
• First quarter total leasing activity: 42,992 square metres:
  • 4,310 square metres new leases
  • 37,786 square metres renewals

* includes operating, development, held for sale, other and VAA/VAC
** rent change is based on lease sign dates

Leasing Highlights

• 53,398 sqm for Schenker spol, at Prologis Park Prague Rudna DC18, in Prague, Czech Republic.
• 13,062 sqm for Yusen Logistics, at Prologis Park Hamburg Hausbruch DC3, in Hamburg, Germany.
• 41,555 sqm for LIDL, at Prologis Park Bergheim DC1, in Rhine-Ruhr, Germany.
• 15,744 sqm for Grieshaber Logistik, at Prologis Park Pulheim DC1, in Rhine-Ruhr, Germany.
• 6,582 sqm for Staci, at Prologis Park Clesud DC4, in Marseille, France.

Capital Deployment – First Quarter 2023

The first quarter saw one new development start: a 32,874 square metre build-to-suit (BTS) in the UK.

Acquisitions: In the first quarter, Prologis Europe acquired 2,991 square metres of land in Poland and 20,902 square metres of land in Germany.

Dispositions: In the first quarter, while there have been no land dispositions, Prologis Europe has disposed of a 4,643-square-metre building in Germany.