Prologis increased its logistic portfolio to €18.7M in Europe

Prologis increased its logistic portfolio to €18.7M in Europe

Prologis is benefitting from the global logistic "boom", boosted by the pandemic’s effects.

«We noticed an adapted and sustainable increase in demand for logistic areas as confidence continues to improve», explained president of Prologis Europe’s president Ben Bannatyn. The total portfolio increased to around 8.7 million sqm, which include added value operational, under development, for sale, others and mergers and acquisitions operations.

And he added: «Our whole rental activity for Prologis Europe increased around 17.4% yoy, with a 34.8% increase in new rentals».

Key-in-hand

The company informed that the whole of its activity for Prologis’ developments during last year’s third quarter were key-in-hand projects. By area, they highlighted the constructions of Poznan III DC2 in Poland, with 48.133 sqm and the expansion of Colonia Niehl DC2 in Germany, with 31.385 sqm.

In Spain, the company highlighted the 11.020 sqm rented to Prologis Park La Granada DC1, in Barcelona, Spain. The company will also invest 100 million euro in the development of a logistic project in San Fernando de Henares, with 21.000 sqm, and one other in Guadalajara, with 40.000 sqm.

In Europe

During the first quarter, Prologis Europe acquired four buildings with a total combined GLA of 44.371 sqm in Belgium, France, Netherlands and the United States and two parcels with a total area of 112.503 sqm in the United Kingdom.                                               

The executive recalled that «the structural trends have also accelerated as a result of the pandemic, which strengthened them and changed the logistic real estate panorama for ever». Thus, he added, we have continued offering key-in-hand solutions and warehouse services through our Prologis Essentials Marketplace platform».

According to Bannatyn, location is more important than ever, together with the greater need for high-quality logistic spaces, boosted mainly by e-commerce. «These factors have translated into positive changes for rental», he added.

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