Prologis’ European Properties Fund II (PEPF II) has acquired two logistics facilities in Poland and Hungary.
The properties total more than one million square feet (94,200 square metres) and are 100 per cent leased.
• A 610,000 square foot (56,700 square metre) building in Gliwice, Poland. The facility is occupied by Tesco, a multinational grocery retailer and repeat customer. The property has immediate access to two trans-European road networks, enabling efficient transportation of goods; and
• A 404,000 square foot (37,500 square metre) building in Budapest, Hungary, occupied by Auchan, a global retailer and repeat customer. The facility is located near the city’s international airport, approximately 20 miles from Budapest city centre.
“These properties are excellent additions to our portfolios in Poland and Hungary,” says 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.”