LogStar, the industrial division of local investor Biggeorge Property, has acquired the WestGate Business Park, an 18,000 sqm industrial facility, from Logicor. The seller was represented by CBRE. The price of the transaction was not disclosed.
WestGate Business Park is situated in Törökbálint, not far from the M1 motorway. The logistics facility consists of several buildings with a 17,900 sqm lettable warehouse and office space. More than 80% of this space is occupied.
LogStar is planning to develop more buildings at the park, some of them are to be refurbished later to increase occupancy. On top of that, a new 8,000sqm building will be built and preparation for this project has already begun.
Biggeorge Property launched its industrial division LogStar in 2020. Their first project included two speculative and one BTS (build-to-suit) buildings in LogStar Park Budapest at the junction of M0 and M3 motorways. The company says its LogStar Park Fehérvár M7 logistics park, on the outskirts of Székesfehérvár, near the motorway, is in the preparatory phase. The park covers more than 65 hectares and 250,000 sqm of light industrial manufacturing and logistics buildings can be built on it.
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