European Q4 and Full Year Performance of Prologis in 2022

Prologis Park Prague Rudná DC6

We’re pleased to share our fourth quarter 2022 activity, and full year operating performance for Prologis Europe & Central Europe. This summary includes operating performance highlights and insights into select milestones and achievements.

Quote from Ben Bannatyne, President, Prologis Europe:

“2022 was a record-breaking year for us. Our milestone acquisitions across major European cities throughout the year allow us to provide our customers with the premium real estate and Essentials solutions they have come to expect from us where they need it most.

We continue to focus on our customers and the partnership they need to grow their business. Our position of financial strength and innovative solutions, particularly within the energy business, help us stay ahead of the fast-evolving needs of our customers.”


Operating Performance – Fourth Quarter and Full Year 2022 (Europe):


Operating Performance – Fourth Quarter and Full Year 2022 Central Europe & the Czech Republic

438,176 square metres of new leases

840,603 square metres of lease renewals

11,687 square metres of new leases

5,245 square metres of lease renewals


*includes operating, development, held for sale, other and VAA/VAC
** as of 31 December 2022
*** based on lease start date

Leasing Highlights:


Capital Deployment – Fourth Quarter and Full Year 2022:

Development Starts:

There have been five new starts in the fourth quarter, comprising a total net rentable area of 68,004 square metres in the Czech Republic, Poland, Slovakia, Italy and Sweden. There were three notable build-to-suits covering 35,396 square metres which are already 100% leased and two speculative developments totalling 32,608 square metres in direct response to growing customer demand.

There have been 31 development starts in 2022, comprising a total net rentable area of 747,673 square metres. Of this, 10 were built-to-suits, covering 159,370 square metres which are 100% leased and 21 speculative developments totalling 588,303 square metres. In Central Europe there have been nine development starts totalling 180,091 square meters (three in Slovakia, three in Poland, two in the Czech Republic and one in Hungary).

Acquisitions and Dispositions:

In the fourth quarter 2022, Prologis Europe acquired a 14,280-square-metre property in Madrid, Spain and our land acquisitions total 521,079 square metres in Italy, Spain, UK, Poland and Germany. The company disposed of one building in Germany totalling 3,561 square metres and 2 land parcels in UK and Slovakia, totalling 255,982 square metres.

This brings the year’s acquisitions to a total of 165 buildings across 1,636,677 square metres and 21 land parcels totalling 1,311,980 square metres across Europe. In 2022 we disposed of 4 buildings with a total 82,758 square metres and 6 land parcels totalling 677,644 square metres.


Insights from Ben Bannatyne, president, Prologis Europe:

In 2022, we have augmented our portfolio through substantial acquisitions and new development deliveries across the 12 markets in Europe adding a record 1,636,677 square metres to the portfolio. This puts us in an even better position to fulfil the growing demand of our customers for premium space, especially in high barrier, high-growth markets.

While adhering to our capital deployment and operational strategies, we continue to innovate beyond the traditional commercial real estate offering. The Prologis Essentials platform now delivers the next generation of solutions to address some of the critical challenges our customers face in operations, energy & sustainability, mobility and workforce.

With the performance of the fourth quarter of 2022 and the Rent Index data, we are cautiously optimistic going into 2023. We continue to work with our customers and our teams on the grounds to overcome the challenges that go along with the ongoing restructuring of global supply chains.