Eika Asset Management (EAM) has completed the first phase of its North Warsaw Nowy Modlin logistics centre near Warsaw. The Warsaw North Logistic Park facility spans over 28,000 sqm and has received its occupancy permit, with Kajima Poland serving as general contractor for the €70 million project.
The investment covers 23 hectares and will offer approximately 117,000 sqm of rental space across three phases, with over 38,000 sqm dedicated to Warsaw North Logistic Park. Located north of Warsaw near Warsaw-Modlin Airport and the S7 expressway junction, the site provides access to Gdańsk, Warsaw and northeastern Poland.
The investor is Eika Real Estate Fund (EREF), which focuses on commercial real estate in CEE and the Baltic states. The fund's portfolio includes logistics, production, office and retail properties, generating an average annual net return exceeding 12%.
"The Polish logistics market covers over 36 million sqm and is the fifth largest in Europe, continuing to grow rapidly. This is our second warehouse development project near Warsaw," says Paulius Stulgaitis, Fund Manager at EAM. "We are well known in the Polish market, where we have completed projects worth tens of millions of euros. The Polish market is currently very attractive for investors," adds EAM CEO Andrius Uždarinys.
The first tenant, a European DIY retail chain, occupies over 55% of the space, while Deka Trans, a 3PL logistics provider, has also signed a lease. The facility targets BREEAM Excellent certification and will include electric vehicle charging stations.
