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Articles

Logicor appoints Cushman & Wakefield to manage 1.7 million sqm logistics property portfolio in CEE

Portfolio covers 47 logistics properties across Poland, Hungary, Romania, the Czech Republic and Slovakia Global real estate services firm Cushman & Wakefield has been appointed by Logicor to manage a portfolio totalling more than 1.7 million square metres of logistics real estate across dozens of sites in Central & Eastern Europe (CEE). Strategically located along busy trade routes in Poland, Hungary, Romania, the Czech Republic and Slovakia, the portfolio – comprising of 47 logistics parks Logicor owns and operates in CEE – will be managed by Cushman & Wakefield’s EMEA Asset Services business. The portfolio includes 33 logistics parks (1,297,000 sq m) in Poland, located in Warsaw suburbs, Central Poland, Wrocław, Silesia, Kraków, Rzeszów and Poznań. A further eight logistics parks (175,600 sq m) are in Hungary, four properties (159,000 sq m) in Romania, one (64,120 sq m) is in the Czech Republic and one (26,000 sq m) in Slovakia. The Logicor account will be led by Zuzanna Paciorkiewicz, Cushman & Wakefield’s Head of Operations for Asset Services Poland, who will oversee teams based in Warsaw, Budapest, Prague and Bucharest as well as those on site. Zuzanna Paciorkiewicz, Account Lead, Head of Asset Services Poland, Cushman & Wakefield, said: “Logicor has one of the largest directly-owned networks of logistics real estate in Europe and we are proud to be entrusted with managing a significant proportion of it in the CEE region. The portfolio also takes the total amount of property that we manage in Poland to 3.2 million square metres, making us the number one property management services provider in the country by space managed.” The portfolio adds to the approximately 30 million square metres (323 million square feet) of commercial real estate in 14 countries managed by Cushman & Wakefield’s EMEA Asset Services business which provides property management services on behalf of corporate, institutional and private clients across the region.   Tina Reuter, Co-Head of EMEA Asset Services, Cushman & Wakefield, said: “Our value-adding Asset Services platform is focused on driving operational excellence, innovation and exceptional outcomes for our investor clients. We look forward to working with Logicor to deliver active and sophisticated management on this significant cross-border logistics portfolio.”            Source: Cushman & Wakefield

Polish industrial market on its way to 18 million sqm

2.5 million sqm was leased in the first three quarters of 2019 and by the end of the year, demand will most likely exceed 3 million sqm

20 mln sq m of warehouse space in Poland in next year

Report – Warehouse market in Q3 2019, Poland: The warehouse sector in Poland has recorded another good quarter. In June to September 2019, over 830,000 sq m of modern warehouse space was rented, of which 56% constituted new lease agreements. 990,000 sq m were delivered on the market, and 1.85 million sq m remains under construction. The availability of space increased slightly to 6.2%. This trend should continue in the following quarters – states the report “Report – Warehouse market in Q3 2019, Poland” summarizing the third quarter of this year in the warehouse market prepared by AXI IMMO experts.

CEE property investment Q3

Commercial property investment activity exceeded €8bn across Poland, the Czech Republic, Slovakia, Hungary and Romania in the first three quarters of 2019, 54% above the five year average, according to Savills latest research report.

Next Urban Warehouse from 7R

After Gdansk, Szczecin, Warsaw and Lodz, the time has come now for Wroclaw. This is the next city where a new 7R investment is being developed as part of expansion of its urban warehouse network. This is already the second project of the developer in this region.

Panattoni builds an additional 53,000 sqm in Lublin

Panattoni, market leader in industrial real estate in Europe, continues its investments in Lublin. The planned Panattoni Park Lublin III will consist of four class A warehouse halls totalling 53,110 sqm. Construction works began last October and the first tenants include well-known logistics operators. They have taken up 12,000 sqm in total.

Panattoni Park Bydgoszcz II with another tenant – close to 18,300 sqm for Nissin Logistics

Panattoni, market leader in industrial real estate in Europe, will provide the logistics company Nissin Logistics with 18,295 sqm of warehouse space at Panattoni Park Bydgoszcz II. It is already the second tenant for the upcoming project, which will be delivered in Q1 2020.

MLP Group posts just under PLN 100m in net profit

MLP Group has released consolidated financial results for the first nine months of 2019, with revenue at PLN 102.2m and net profit at PLN 97.6m, up 237% year on year. Equity (net assets) rose 10.6% YTD, to PLN 902m. The total leased area grew by more than 30% year on year.
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