Prologis Europe Group is benefiting from the furore in the global logistics sector, driven by the effects of the pandemic. The company has renewed leases on the European continent for a total area of 747,765 m2 in the year to March. Of this, 187,954 sqm were new leases, an increase of 34.8%.
“We have seen an increase in demand for fit-for-purpose and sustainable logistics spaces as confidence continues to improve,” Ben Bannatyne, chairman of Prologis Europe, said in a statement. The total portfolio has grown to 8.7 million square metres, including operational, development, saleable, and other and value-add acquisitions/conversions.
He added: “Our total leasing activity for Prologis Europe increased by 17.4% compared to the same period last year, with 34.8% growth in new leases.
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