ARTICLES LABELLED WITH TAG warehouse

The Polish warehouse market remains in great shape. New year-to-year records are being broken. Gross demand amounted to 4 million sqm, of which 75% was made up of new lease agreements and expansions. This is a 32% improvement compared to 2016. High demand side results are due to the accelerating economy, including internal consumption growing month by month, and an increase in investment by companies. Developers responded quickly to high demand from tenants, resulting in 2.36 million sqm delivered on the market and 1.39 million sqm under construction at the end of 2017. The high level of absorption caused the vacancy rate decrease to 4.5%, according to the report summarising 2017 in the warehouse space market in Poland, prepared by AXI IMMO experts.

The MLP Group has handed over a ready for use, 24,700 square meter warehouse facility to Żabka Polska S.A., located in the MLP Gliwice logistics park.

Panattoni Europe has started the construction of the first logistics centre in Białystok. The developer’s new project – Panattoni Park Białystok – featuring roughly 40,600 sqm, is being executed in full. 50% of the space has already been commercialised. Completion of construction works on the entire investment is planned for the end of Q3 2018.

pbb Deutsche Pfandbriefbank provided an investment facility of €41.4 million to companies owned by a professional private real estate investor and managed by development and investment company Amesbury s.r.o. The funds will be used to refinance the Zlicin and Chrastany business parks near Prague. Thereby pbb extended the maturity of its financing by another five years. The transaction closed in December 2017.

Panattoni Europe is to build a distribution and online store service centre for SMYK. The facility, which will feature 70,000 sqm at full build-out, will be erected at the Panattoni Central European Logistics Hub in Łódź. The investment will be launched in early January and will proceed in a number of phases. The first 26,000 sqm is scheduled for commissioning in June 2018. The lease transaction was mediated by JLL.Panattoni Europe is to build a distribution and online store service centre for SMYK. The facility, which will feature 70,000 sqm at full build-out, will be erected at the Panattoni Central European Logistics Hub in Łódź. The investment will be launched in early January and will proceed in a number of phases. The first 26,000 sqm is scheduled for commissioning in June 2018. The lease transaction was mediated by JLL.

eMAG, Romania’s largest online retailer announced that it is investing €65 million (RON 300 million) in a 120,000 sqm warehouse which will be built in Giurgiu County, the largest of its kind in Southeastern Europe. The warehouse is due for completion in 2019, zf.ro reports.

Accelerate Property Fund, a JSE-listed real estate investment trust, has announced it will acquire a portfolio of five single-tenanted, long-lease, light industrial properties in Poland for €41.9 million from Panattoni Europe.

A second building is under construction at the Páty industrial park right after the handover of the first facility. This time Inpark develops a built-to-suit, energy efficient warehouse to leading electronics retailer Euronics, with a total budget exceeding €8 million (HUF 2.5 billion), to be delivered next spring.

Poland’s warehouse supply hit a record high at the end of Q3 2017. The industrial stock totalled 12.86 million sqm, which represented an 18% rise year-on-year. Tenant demand remained robust on the country’s core warehouse markets, driven largely by logistics operators whose share in total take-up amounted to 45%. The vacancy rate slipped down by 0.8 percentage points year-on-year while headline and effective rents remained largely unchanged, reveals Cushman & Wakefield.

Real estate developer Zacaria announced the expansion of Western Industrial Park in Oradea with a new warehouse of more than 6,300 sqm, already commissioned by a German tenant in the process of opening its first subsidiary in Romania.