Jones Lang LaSalle confirms that it has advised Tesco on the signing of two lease renewals at the end of 2012, totalling 86,400 square meters in Slovakia
Tesco has renewed lease agreements for two facilities, totaling 64,475 and 21,646 square meters respectively. Both buildings are located in Prologis Park Galanta-Gan, approximately 37 miles (60 kilometers) northeast of downtown Bratislava. The state-of-the-art distribution park includes three fully-occupied logistics facilities totalling 186,000 square meters with additional development potential of 62,000 square meters.
Ben Havery, EMEA Logistics & Industrial at Jones Lang LaSalle, who advised Tesco commented: “Early communication between Tesco and Prologis has enabled both parties to successfully achieve their objectives. This is a significant floor plate and is typical of the type of logistics space retailers commit to throughout mainland Europe.”
A spokesperson from Tesco commented: ‘We have taken the opportunity to renew our leases at Prologis Park Galanta, giving us the flexibility we require for our non-food business lines. With on-going advice from Jones Lang LaSalle’s European Logistics platform, we are well positioned for 2013 in Central Europe.”
“This renewal helps further solidify our relationship with Tesco and speaks to the strategic value of our portfolio,” said Martin Polak, vice president and market officer, Prologis Czech Republic & Slovakia. “With close proximity to a major highway, Bratislava airport, and the Port of Bratislava, Prologis Park Galanta-Gan offers our customers a key, strategic location for their logistics needs in this region.”