Prologis Invests in Second Pilsen Logistics Park
Prague (10 May, 2018) - Prologis, Inc., the global leader in logistics real estate, announced that Prologis European Logistics Fund (PELF) has acquired Mountpark Pilsen in the Czech Republic.
The park, acquired from Mountpark Logistics EU, comprises 43,700 square metres of vacant logistics facilities and three hectares of additional development land,totalling 10,000 square metres. It will be renamed Prologis Park Pilsen II.
Situated on the D5 highway that connects Prague to Bavaria, 16 kilometres west of Pilsen in the municipality of Prehysov, the park offers a prime logistics location. Regarded as the Czech Republic’s gateway to Europe, it is a strategic manufacturing hub due to competitive wages and a highly skilled workforce. It is Prologis’ second investment in the Pilsen market, next to its fully occupied, 58,500 square metre Prologis Park at Pilsen-Stenovice.
“Pilsen is an established logistics market and a target one for Prologis. This acquisition provides a good growth opportunity in a high demand region”, says Martin Polak, senior vice president, regional head, Prologis CEE. “Prologis Park Pilsen-Stenovice, has already proven to be one of our most successful parks in our Czech portfolio. This second park will allow us to further accommodate the growing expansion needs of our customers in a pivotal location on the main east-west artery to Germany.”
Modesta Real Estate represented Prologis during this transaction.
Prologis is a leading provider of distribution facilities in the Czech Republic with more than 1 million square metres of logistics and industrial space (as of March 31, 2018).
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 683 million square feet (63 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,000 customers across two major categories: business-to-business and retail/online fulfillment.
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