Prologis leases 930,000 m[sup]2[/sup] in CEE

Industrial real estate specialist Prologis has leased more than 930,000 m² of space in Central and Eastern Europe in the first three quarters of the year, up 20% on the same period in 2010.

More than half of all lease agreements signed were for logistics parks in Poland. New lettings accounted for more than 350,500 m² - a 10% improvement over the same period in 2010. In addition, lease renewals reported a 24% year-on-year increase.

New customers in Poland occupied a total of 250,000 m² of modern distribution and office space. Additionally, lease renewals accounted for 288,000 m².

The agreements signed in the first three quarters reduced the vacancy rate by more than 30%, driving occupancy to 89% across CEE.

Prologis' Central and Eastern European portfolio includes over 3.7 million m² of space located in 41 distribution parks.