Prologis, Inc., a manager and developer of distribution facilities, has signed two new lease agreements at Prologis Park Prague-Uzice, located less than 30 km north of Prague.
The new lease transactions include:
• 14,800 square meters leased in Building 4 to Thimm Obaly, a packaging manufacturer;
• 12,600 square meters leased in Building 1 to VF Czech Services, a clothing and footwear manufacturer.
– Prologis Park Prague-Uzice is an efficient and cost-saving distribution center, strategically located along the D8 motorway. Recent improvements to the road network around Prague, combined with high-quality property management services, strengthen the Park’s position as a valuable logistics hub – said Martin Polák, vice president and market officer for Prologis in the Czech Republic and Slovakia. – Reconfigurations of our customers’ supply chains have made Uzice one of the primary locations among logistics centers in the Czech Republic. Both of these transactions confirm that Prologis was right to invest in this location, further strengthening its already strong position in the Czech market. We are very pleased to welcome Thimm Obaly and VF Czech Services to our park in Uzice. We look forward to further cooperation as our new customers’ businesses grow.
Prologis Park Prague-Uzice consists of four buildings with a total area of over 97,000 square meters. Upon full build-out, it will comprise seven buildings with a total warehouse area of nearly 170,000 square meters. Located by the motorway, the park has convenient connections to Prague, the industrial northern part of the country, the German border, and the international port in Hamburg.
Thanks to both transactions, the occupancy rate in the Czech Prologis portfolio increased from 91.3% in the third quarter to 93.8% at the end of November 2012.