ARTICLES LABELLED WITH TAG logistics

Retail chain Penny Market will expand one of its three logistics centres in Hungary. The project, which is expected to be completed by August 2022, will add 30,000 sqm to the company's facility in Karcag, Eastern Hungary, increasing its storage capacity. Penny Market will also create new jobs through the one-year project.

Panattoni Europe has obtained an ‘Excellent’ rating under the BREEAM International New Construction system for Panattoni Park Sosnowiec I. This is the first time such a high certification level has been achieved on the Polish industrial real estate market for a newly built project.

The European Bank for Reconstruction and Development (EBRD) has successfully subscribed to a €67 million ticket as part of an inaugural eight-year €600 million green bond issuance by VGP NV, a pan-European provider of logistics and semi-industrial real estate. EBRD’s investment will support the development of sustainable semi-industrial and logistics parks in Hungary, Latvia, Romania and the Slovak Republic.

The industrial and logistics market in Romania recorded leasing deals for around 200,000 sqm in the first quarter of 2021, a volume that is double compared to the same period of 2020, according to a report by real estate consultancy firm Cushman & Wakefield Echinox. 

Hungarian real estate developer Biggeorge Property is expanding its management team. The company's strategy for the next five years targets further substantial growth and the new managers were added to help achieve these goals, owner-CEO Tibor Nagygyörgy said.

Prologis has started a new speculative development at Prologis Park Budapest-Sziget II which is set to be delivered by the end of the year. A new 11,600 sqm warehouse building is now under development at the park, where 48,000 sqm of potential development space remains available.

According to the latest Savills research, at figures ranging between €4.60-5.30 per sqm per month, out of 54 markets analysed, Prague and the Polish cities of Katowice, Wrocław, TriCity and Poznań are among the ten cheapest locations for renting a modern warehouse globally. In Europe, Poznań (€4.68/sqm/month) is the most cost-effective location with only certain cities in India and Vietnam having lower overall warehousing property costs.

According to a recent report from Savills, an additional 8.6 million sqm of warehouse space is required by parcel companies in Europe between 2021 and 2025 to keep up with growing e-commerce demand.

7R has acquired land for two new last mile projects in Warsaw locations. The first will be built on Osmańska Street, near Chopin Airport, and the second - on Rzeczna Street in Targówek. 

Total demand on Budapest’s industrial market amounted to 81,820 sqm in Q1 2021, indicating some 3% increase on the volume measured in the corresponding period of the previous year. Pre-leases dominated the demand with a share of 45%, according to the BRF’s quarterly report.