Prologis 4th Quarter and 2023 Performance Update

Prologis Europe is pleased to share our fourth quarter and full year 2023 activity for Prologis Europe. This summary includes operating performance highlights and insights into select milestones and achievements.

Quote from Ben Bannatyne, President, Prologis Europe:
We closed the fourth quarter of 2023 with a solid pipeline, a healthy uptick in development and vacancy levels well below market average. Given current conditions, demand for quality and sustainable warehouse space remains strong, particularly in dense markets like the UK, the Netherlands and Germany. Across all European markets we continue to be focused on our customers success, providing solutions through our industry-leading Prologis Essentials platform, strategic landbank and the best team in the business.

Operating Performance – Fourth Quarter and Full Year 2023:

includes operating, development, held for sale, other and VAA/VAC
** based on lease start date

Operating Performance Central Europe & Poland – Fourth Quarter 2023:

operating portfolio

Leasing Highlights Fourth Quarter 2023:

Capital Deployment – Fourth Quarter and Full Year 2023:

Developments Starts:

Additional commentary from Ben Bannatyne, president, Prologis Europe:

Over the past 12 months, our Prologis Essentials business has increasingly provided vital continuity for our customers’ operational needs. We understand that local requirements such as permitting are increasingly linked to ESG vision and measurable social impact, which is why our solutions in the areas of operations, energy + sustainability, mobility and workforce continue to evolve to stay ahead of what’s next. In the field of energy for instance, we ended the year on a high, reaching the halfway milestone of 500MW of on-roof solar generation and battery storage; putting us well on the track to surpassing our own goal of 1GW by 2025.