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Prologis announces sale of its Park Galanta-Gáň to Chinese CNIC

The park is the largest logistics asset, both by area and investment volume, ever sold in the CEE region, according to Barnáš of JLL CZ&SK

Prologis Park Galanta-Gan(Source: Courtesy of Prologis)

Prologis announced the sale of Prologis Park Galanta-Gáň in Slovakia to CNIC Corporation Ltd. owned by the Chinese government on September 27.

Prologis Park Galanta-Gáň comprises 240,000 square metres of class A logistics space across four facilities, all of which are fully leased. The sale includes the BTS 7,000 square meters development, which is currently under construction, for a logistics provider offering industrial plastic waste recycling services.

Located near the E571 dual carriageway, Prologis Park Galanta-Gáň has easy access to Bratislava via the D1 highway and good road transport links to Austria, Hungary and the Czech Republic.

“With two recent build-to-suit transactions now in place, development of the park is complete,” Martin Polák, senior vice-president and regional head of Prologis CEE, said in a press release. “We are now poised for the next steps in our long-term investment strategy for the region.”

The park is situated in western Slovakia which has gained a flattering reputation of being the production and manufacturing hub of CEE, thanks to the hundreds of suppliers, good infrastructure network, highly skilled workforce and 40+ professionally managed light industrial, warehousing and logistics parks and countless stand alone owner occupier facilities, according to Jones Lang LaSalle CZ&SK. Its capital markets team represented Prologis in this deal.

“The overwhelming interest of investors once again confirmed that western Slovakia, the hub of European production and innovation, is extremely attractive and liquid investment destination, even when it comes to large single asset deals,” said Miroslav Barnáš, CEO of JLL CZ&SK, head of Capital Markets Slovakia. “The park is the largest logistics asset, both by area and investment volume, ever sold in the CEE region.”

CNIC is an investment company owned by the Chinese government, while Prologis, Inc. is a global logistics real-estate company with a focus on high-barrier, high-growth markets. It leases distribution facilities to a diverse base of approximately 5,200 customers.

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