Prologis buys 94,000 m2 of logistics space in CEE

Global industrial property specialist Prologis has acquired two logistics facilities in Poland and Hungary providing over 94,000 m2 on behalf of its Prologis European Properties Fund II.

The properties are 100% leased and include a 56,700 m2 building in the Polish city of Gliwice, occupied by Tesco, and a 37,500 m2 building in the Hungarian capital Budapest, occupied by Auchan.

Financial details were not disclosed. Colliers International was the exclusive agent in the sale, acting on behalf of funds managed by Invesco Real Estate.

'These properties are excellent additions to our portfolios in Poland and Hungary,' said Ben Bannatyne, managing director, Prologis Central & Eastern Europe. 'Both are in key locations along major commercial routes that are growing in importance due to an increase in intra-regional trade in Central and Eastern Europe.'

Prologis owns and manages 14 million m2 of logistics and distribution space in Europe as of end-March 2014.