ProLogis third quarter leasing activity increases 9pc in Europe

PROLOGIS, an international owner, operator and developer of industrial real estate, has reported that third quarter leasing activity from its European operation was nine per cent higher than the previous quarter, covering 670,700 square metres.

New lease activity in the third quarter covered 244,200 square metres.

"Reconfiguration of the European logistics sector continues to drive demand for more modern, efficient and cost-effective facilities, despite the ongoing economic uncertainties," said Philip Dunne, president, Prologis Europe. "Increased activity in key markets, most notably in the UK and Poland, gives us cause for optimism as we look to Q4 and beyond."

The lease agreement highlights include: 27,900 square metres built-to-suit agreement with a transport infrastructure company at Prologis Park Ryton in the UK; 25,500 square metres new lease with a third-party logistics provider at Prologis Park Janki in Poland, including the development of a 7,000 square metres extension to be delivered in June 2013; 20,300 square metres new lease with a third-party logistics provider at Isle d'Abeau in France; and 17,300 square metres new lease at Bleiswijk in the Netherlands.

Subsequent to quarter end, Prologis signed a 92,900 square metres build-to-suit agreement with a leading retailer, for a rail-connected facility at the Daventry International Rail Freight Terminal in the UK, reports UK's Transport Intelligence.

In the Netherlands, Prologis acquired a fully leased facility covering 38,600 square metres near Rotterdam. In the UK, Prologis acquired 33 acres of land in Dunstable, and a further 33 acres at Prologis Park Ryton extending the site to 98 acres.