Prologis enlarges portfolio
Prologis Europe reported a successful first quarter in 2019. Customer sentiment remained positive, despite some headwinds from political and trade tensions and weakening economic growth. Demand was robust and largely driven by the need for supply chain reconfiguration and continued high consumption levels.
Development was healthy across the continent, with new activity in all regions where the company operates. Rental growth also continued to accelerate in many markets, as vacancies were at a record-low and replacement costs continued to rise.
In Q1/2019, Prologis concluded new lease contracts with Amazon in France, Continental Aftermarket in Germany, DHL in Czechia and Vitabiotics in the UK. Furthermore, the company acquired ten buildings with a total net rentable area of 83,000 sqm in France, Spain and the United Kingdom and eight plots of real estate with a total area of 720,000 sqm in Germany, Italy, the Netherlands, Slovakia and the UK. (mw)