Prologis to develop 20,600 m[sup]2[/sup] for logistics provider in Budapest

Prologis has announced plans to develop 20,600 m² of industrial space for third-party logistics provider Uti Logistics in Prologis Park Budapest-Sziget. Uti will operate the build-to-suit site as a distribution centre for one of its clients. Located 17 kilometres south of Budapest city-centre, Prologis Park Budapest-Sziget will total 170,700 m² when fully built. Currently, the park comprises 80,800 m² over five buildings. Other tenants include Schneider Electric, NCR, Filtrona, Quadrant, Transped, Rhenus Archico and KS Spedition.

Laszlo Kemenes, vice president of Prologis in Hungary, commented: 'Over the last several years, an increasing number of multinational companies have established operations in Budapest due to the city's convenient access to key markets in Central and Eastern Europe, low cost of labour and large local population. Conversely, Prologis has been able to steadily grow its market leading presence here by capitalising on the emerging demand from the region's growing manufacturing, retail and logistics services base.'