ARTICLES LABELLED WITH TAG logistics

P3 Logistic Parks has acquired a 16-hectare site in Dragomiresti Vale, a prime logistic location on the north-west outskirts of Bucharest. A new 80,000 sqm logistics park – to be known as P3 Bucharest NW Ring Road – is to be developed on the site, which has direct access to the newly extended Bucharest Ring Road and provides easy access to all parts of the Romanian capital, as well as the A1 and A3 highways.

Prologis has committed to a science-based target (SBT) to address the urgent action needed to curb climate change. Led by the Science Based Targets Initiative (SBTi), SBTs are an internationally recognized approach for helping companies create science-based goals for reducing GHG emissions.

CTP announced reaching the 5 million sqm lettable milestone this month. The company has developed a portfolio of strategically located business parks over the past 20 years located throughout Central Europe with 95% occupancy, creating approximately €280 million of rental income for 2018, with over 415 tenants employing over 60,000 people in a variety of industries, manufacturing, R&D, logistics, distribution and e-commerce across 8 countries.

In the third quarter of 2018, the Polish warehouse market was bolstered by 683,400 sqm of new supply. At the end of September, storage space in Poland exceeded 15 million sqm, which means that in the last 5 years the total surface volume has doubled. Almost 2 million sqm remains under construction, of which more than 25% in Central Poland.

Prologis has started development of a new 16,700 square meter facility at its fully occupied Prologis Park Wrocław V. The company has already signed the first pre-lease agreement for 6,000 square meters in the new building with a logistics operator in the aviation industry.

Poland's industrial sector remains in great shape. Up to 2.8 million sqm of space was leased and 1.3 million sqm delivered to market from the beginning of January to the end of September 2018. Nearly 2.1 million sqm of industrial space remains under construction, according to JLL.

According to Cresa’s latest report, the vacancy rate on Poland warehouse market is at a record low of 4.3% at the end Q3 2018 (down by 0.9 pp compared to September 2017). With new supply continually on the rise, Poland’s warehouse and industrial stock has already surpassed the 15 million sqm mark.

Excellent warehouse market figures for the third quarter this year show that growth is being maintained in Poland. Demand has exceeded 3 million sqm since the beginning of the year, with 870,000 sqm leased in the third quarter alone. This result is 20% higher compared with the same period last year. An impressive 2.16 million sqm of warehouse and production space is under construction, of which 33% will be delivered on the market by the end of the year, according to a report prepared by AXI IMMO.

CTP has sealed a long-term strategic partnership with Deka Immobilien involving three prime industrial parks in the Czech Republic - CTPark Plzeň, CTPark Prague North and CTPark Teplice. Deka Immobilien acquired the ownership stakes in the parks with CTP Group continuing to manage and operate the portfolio under the CTPark network brand. Including two development projects, the deal represents 430,000 sqm of premium industrial properties. The transaction volume of €460 million places the deal amongst the largest ever real estate transactions in the Czech Republic.

Romania's industrial and logistics market is currently benefitting from its best period in history, both in terms of supply and demand, with development being condensed in a number of large cities with access to at least one highway that facilitates the transport and distribution of goods in a shorter time and with lower costs to a larger number of customers.