PEFP adds to Hungarian sheds

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ProLogis European Properties Fund (PEPF), part of distribution facilities and services provider ProLogis, has bought the 101,987sq m Harbor Park in Budapest. The acquisition doubles the size of ProLogis’ portfolio of properties owned and under development in Hungary to 197,790sq m by adding nine distribution facilities, all of which were developed in the past four years.

The park is located on the southern border of Budapest, just south of the central business district and adjacent to the Danube River. Customers at ProLogis Harbor Park that also lease space at other ProLogis facilities include Schneider Electric (parent company of Schneider Electric Hungaria) and Pactiv Corporation (Pactiv Hungary Kft.). Other customers include Chinoin (Sanofi Synthelabo Group), Rewico Group Istersped, and Budapest Papir.

Robin P R von Weiler, ProLogis’ managing director for Northern and Central Europe, says: “This particular park is one of the finest in the country, it is in a prime location, and it is a valuable addition to our portfolio, enabling us to offer additional distribution facilities to our customers.”

ProLogis Harbor Park has an additional development potential of 50,000sq m.

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