ProLogis Signs Three to Poland Industrial Leases

ProLogis has singed three companies to leases totaling more than 641,000 square feet in its new industrial park in Chorzow, Poland. In addition, the company signed UK retailer Tesco to a 133,000-square-foot lease in its Teresin, Poland industrial facility (pictured).



The leases represent the latest activity in Central Europe for ProLogis, which has been quite active in the region since entering the market in 1998. Since that time, the company has acquired more than 12 million square feet of industrial distribution space in Central European nations, including more than 8.5 million square feet in Poland alone. As previously reported by CPN, ProLogis is currently developing a 1.7-million-square-foot distribution facility in Bucharest, Romania, scheduled to open over the next two to three years.

The leasing activity at ProLogis Park Chorzow, a seven-building, 1.6-million-square foot industrial facility located northwest of Katowice, includes deals with subsidiaries of European third-party logistics provider the Raben Group, FM Logistic and Reporter, a Polish clothing company. The Raben Group leased 309,000 square feet, while FM Logistic will occupy 188,000 square feet. Reporter will use its 144,000-square-foot space for storage and distribution to Central and Eastern Europe.

Maciej Madejak, ProLogis vice president & market officer for Poland, said in a statement that the firm's activity in Poland is expected to continue as both domestic and international companies look to establish distribution facilities in the nation, which benefits from its location at the gateway between Western and Eastern Europe. Madejak added that ProLogis has nine new facilities currently under development across Poland, and expects a high rate of interest in the new Chorzow facility, which is more than 70 percent pre-leased.

Tesco's lease at the ProLogis Park Teresin (pictured), a 1.7-million-square-foot complex outside Warsaw, comes three years after the company acquired a 409,000-square-foot building from ProLogis at the same location.

Source: CPN online