ARTICLES LABELLED WITH TAG logistics

Industrial and logistics developer Element Industrial has received the building permit for ELI PARK 1 and has started the construction works. The park will offer 45,000 sqm of warehouse and office space following an investment of €25 million.

Prologis has completed construction of two new speculative facilities totalling 25,300 square meters at Prologis Park Bratislava. The developments include 9,800 square meters in Building 14, of which 2,700 square meters are pre-leased to Electronic Star, an e-commerce retailer and 2,900 square meters to Blitshtein Trading, a food distributor serving major CEE markets, in addition to 15,500 square meters in Building 20.

In 2018, the Polish industrial market was driven by e-commerce which, in addition to generating strong take-up levels, reported new requirements regarding warehouse location and technical specifications, says Tom Listowski, Partner, Head of Industrial and Warehouse, CEE at Cresa.

Dentons’ Real Estate team in Warsaw has advised Hines Global REIT on the sale of a portfolio of five logistics properties in Poland. The transaction value was approximately €140 million. The assets were acquired by Gemini Poland Holdcos, affiliates of Blackstone Group.

Panattoni Europe announces that Tritax EuroBox, which invests in Continental European logistics real estate assets, has exchanged contracts to acquire a prime, modern national logistics facility at Strykow, Lodz, in Central Poland, let to Castorama Polska Sp. z o.o., one of Europe’s leading DIY retailers and part of Kingfisher plc. The total consideration payable by the company is €55 million (excluding purchaser's costs), reflecting a gross initial yield of 5.8% on the asset acquisition.

Carrefour has once again opted for WDP as its real estate partner for two new WDP sites in Romania (namely in Deva and in Brazi), totalling a surface of around 80,000 sqm. Both development projects represent an investment volume of around €40 million.

The European Investment Bank (EIB) is lending €150 million to Warehouses De Pauw (WDP) to finance the construction of 43 warehouses, all located in Romania’s convergence regions. The new logistics facilities will be rented long-term, with a focus on establishing new logistics or light industrial operations. This will promote employment generation and the EU's supply chain security, resulting in particular from the rapidly growing e-commerce business platforms.

Belgian developer WDP has signed a €45 million deal for the development and lease of 77,000 sqm of logistics warehouse space for the Romanian arm of French retailer Auchan.

Panattoni Europe opened Panattoni Park Białystok, featuring in excess of 41,000 sqm of Class A logistics and industrial space. The park is a multi-tenant facility suitable for a range of industries – from logistics to production. The complex is currently 60% leased.

Prologis announced that demand for space at its new Prologis Park Brno has prompted the construction of a second speculative facility at the Czech site.