ARTICLES LABELLED WITH TAG industrial

Allianz Real Estate, acting on behalf of several Allianz group companies, and logistics developer VGP have agreed to form a new 50/50 joint venture. The vehicle, the fourth such venture between Allianz Real Estate and VGP since 2016, will develop a portfolio of prime logistics assets in Germany, the Czech Republic, Hungary and Slovakia.

Renata Osiecka, Managing Partner at AXI IMMO talked to Property Forum about the new sources of demand on Polish warehouse markets, financing new logistics projects and forecasts for the nearshoring trend.

Stockholm-based global investment manager EQT Exeter has acquired five logistics halls in two parks in Ostrava (Logistics Park Nošovice and Ostrava Airport Multimodal Park) offering 140,000 sqm of Class A space from J&T and Concens Investments. CBRE advised the sellers in the €150 million transaction.

Warehouse occupiers are prioritising the shortening of supply chains to mitigate business risks, a trend that is likely to dominate the demand for warehouse space in Europe for the next three years, reports Savills and Tritax EuroBox plc, a leading investor in European logistics real estate. According to Savills, Poland becomes a target for larger Foreign Direct Investment facilities.

Panattoni is kicking off its first investments in Hungary. On the plot purchased in Herceghalom, 30 km from the centre of Budapest, Panattoni Park Budapest West will be built with a total space of 75,500 sqm. The developer has also acquired land for City Logistics Budapest I in Törökbálint, halfway between Herceghalom and the Hungarian capital. Both investments will encompass jointly up to 100,000 sqm.

Retailer Penny, part of German Rewe Group, has opened its fourth warehouse in Romania following an investment of €26 million. 

CTP Romania, the largest developer and owner of warehouses in the country, has more than 270,000 sqm currently under construction in Bucharest and regional cities, accounting for around 26% of all development underway at the group level. 

Irish clothing chain Primark has expanded the space it leases in CTPark Bor, the largest Czech industrial park. CTP, the developer and owner of the park, recently finished another warehouse for Primark, which will be fully automated, incorporating the latest robotic technology. In total, Primark leases approximately 80,000 sqm of Class A warehouse space in CTPark Bor.

Property group Globalworth has obtained the WELL Health-Safety Rating for the entire portfolio of almost 500,000 sqm consisting of 15 office buildings in Romania. 

Accolade Industrial Fund confirms its position as the second-largest real estate fund in the Czech Republic as it reaches two milestones in the third quarter. The value of the fund's portfolio exceeded €1 billion. Furthermore, over 2,000 qualified investors are already investing with the fund. The fund's third-quarter performance was 7.36% in the CZK class and 7.86% in the EUR class. The fund's performance reflects the rising price of industrial real estate during 2021. This investment asset has become very attractive to large institutional players whose attention is causing industrial real estate to seek its price level.