Prologi's position in Europe remains strong with high occupancy and the strength to invest for the future provides long-term confidence.
- 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, says Ben Bannatyne, CEO of Prologis Europe.
In total, the portfolio during Q1 consisted of 22.3 million square meters, of which just over a quarter of a million square meters were new leases and approximately 770,000 square meters were renewals. Rents across the continent increased during the first quarter by 26.5 percent.
From a Swedish perspective, the quarter was also strong.
- Q1 has offered a high level of activity, above all within operations. Two properties in the important logistics locations of Eskilstuna and Rosersberg in Stockholm have been completed and are now ready for lease. Another milestone that was passed was the signing of the first leasing agreement for Racking within our new procurement platform Essentials, says Gunnar Gillholm, VP and country manager Nordics.
Read more about Prologis Q1 in Europe here.