We are pleased to share our first quarter activity for Prologis Europe in 2024. This summary includes operating performance highlights.
Quote from Ben Bannatyne - President, Prologis Europe
“In the first quarter of 2024, demand for our high-quality logistics real estate remained steady across the 12 European markets where we operate. Germany and the Netherlands continue to be the strongest markets, given their high barriers to supply and strong demand. We anticipate our customers’ need for space when and where they need it most, whether that is meeting the demand of e-commerce or building data centres. We leverage our extensive ready-to-build land bank, robust financial position and super integrated logistics platform to provide a complete solution tailored to their needs.”
Quote from Jessica Pilkes - Head of Asset Management, Prologis Northern-Europe
“Germany and the Netherlands remain strong markets in the first quarter of 2024. This continues the trend that we saw in 2023 where the Netherlands measured the highest rent increase in Europe. With our extensive logistics real estate portfolio in the logistics hotspots and our additional services like Prologis Essentials, we keep up with market demands and the need for innovative solutions.“
Operating Performance – First Quarter 2024:
- Total portfolio: 22.5 million square metres*
- First quarter total leasing activity: 1,078,262 square metres
- New leases: 147,929 square metres
- Renewals: 930,333 square metres
- Q1 2024 rent change: 20.5%**
- Occupancy: 97%
* includes operating, development, held for sale, other and VAA/VAC ** rent change is based on lease start date
GROUNDBREAKERS 2024 will be held in London
GROUNDBREAKERS, Prologis’ signature thought leadership event, will take place in Europe for the first time! Last year’s event explored the electrification of everything, a rapidly changing workforce and how AI is influencing the supply chain — among other themes (view panels). This October, we’re gearing up for even more innovation, engagement and knowledge sharing in a one-of-a-kind event. Mark your calendars for October 2nd, and stay tuned for more information!
Read the full press release about the Q1 2024 results on the website.