Prologis Europe is pleased to share this recap of its first quarter 2023 activity. This summary includes operating performance highlights and insights into select milestones and achievements.
Ben Bannatyne, President, Prologis Europe:
“Demand for high quality, tailored and sustainable logistics space continues to be strong with an occupancy of 98.6% in the past quarter across the 12 European markets we operate in. Given the macroenvironment, we continue to operate our business with a degree of caution. Our very strong balance sheet continues to provide flexibility to capitalise as opportunities arise, strengthening our built-for-the-future approach to stay ahead of our customers’ needs.”
Jessica Pilkes, Country Manager Prologis Benelux:
"Demand for high-quality logistics space also continues in Belgium. By working closely with our customers, we continue to respond to their needs and successfully anticipate the rapidly changing needs in the market. For example, with Prologis Essentials and our urban portfolio that we keep expanding."
Operating Performance – First Quarter 2023 (Europe):
- Total portfolio: 22.3 million square metres*
- First quarter total leasing activity: 1,027,535 square metres:
- 256,690 square metres new leases
- 770,845 square metres renewals
- Rent change: 26.5 %**
* includes operating, development, held for sale, other and VAA/VAC
** rent change is based on lease sign dates
- 53,398 sqm for Schenker spol, at Prologis Park Prague Rudna DC18, in Prague, Czech Republic.
- 13,062 sqm for Yusen Logistics, at Prologis Park Hamburg Hausbruch DC3, in Hamburg, Germany.
- 41,555 sqm for LIDL, at Prologis Park Bergheim DC1, in Rhine-Ruhr, Germany.
- 15,744 sqm for Grieshaber Logistik, at Prologis Park Pulheim DC1, in Rhine-Ruhr, Germany.
- 6,582 sqm for Staci, at Prologis Park Clesud DC4, in Marseille, France.
Capital Deployment – First Quarter 2023 (Europe)
The first quarter saw one new development start: a 32,874 square metre build-to-suit (BTS) in the UK.
- In the first quarter, Prologis Europe acquired 2,991 square metres of land in Poland and 20,902 square metres of land in Germany. Together 23,893 square metres of land.
- In the first quarter, while there have been no land dispositions, Prologis Europe has disposed of a 4,643-square-metre building in Germany.
- Research: 2022 Prologis Logistics Rent Index
- Research: Future Flow of Goods, updated Nov 2022
- 2021-2022 Prologis ESG report
- Prologis is the #1 real estate investment trust (REIT) on the 2022 Global 100 Most Sustainable Corporations in the World list. This is the company’s thirteenth appearance on the list, which is widely considered one of the most reputable sustainability rankings. Corporate Knights, a specialised media company and investment research firm, ranks publicly traded global companies on a broad scope of metrics related to environmental stewardship, social responsibility and governance (ESG).
Should you like to interview Ben Bannatyne, discuss any aspect of this announcement or require more information, please do not hesitate to contact us.