Prologis plumps out portfolio

Not speculating for long Prologis has begun the development of a 21,000 sqm speculative warehouse project at Prologis Park Sziget-Budapest. According to the developer, this will be the first speculative logistics building on the Hungarian market since 2008. The completion of the project is scheduled for Q3 2016. The new hall, building 7, will feature a pioneering docking system with 46 docks and three drive–in gates. “This facility will offer Prologis’ customary exceptional property management for our tenants and a practical approach, combining local expertise with global best practices. Together with the increasing rents at Prologis Park Budapest-Sziget, it was the 98 pct occupancy of our Hungarian portfolio and our high customer retention rate that has given us the confidence to carry out this development,” declared László Kemenes, the senior vice-president and country manager of Prologis Hungary. BMW in the centre Meanwhile, Prologis has officially