European Logistics Investment (ELI), a logistics platform in Poland, has closed H1 2022 with 1.2 million sqm of standing, under construction, and secured pipeline projects. Over the first 6 months of the year, ELI has also expanded its landbank, adding 90,000 sqm GLA to its development potential, and initiated the construction of logistics assets with a total GLA of 97,000 sqm.
ELI’s new developments in H1 2022
The company has started the construction of logistics space across 3 projects with a total GLA of 97,000 sqm. The new projects are being rolled out as a continuation of the successful ELI projects in Kraków, Lublin and Toruń.
The new developments currently stand at 50% of pre-let spaces to tenants ahead of the delivery scheduled for H2 2022. The tenancy profile covers industries such as production, logistics, as well as retail. Tenants secured for the projects include among others: Trivium Packaging, Stella Pack, Dachser and Hellmann. The new assets will feature top technical specifications and will seek to obtain a minimum rating of “Very Good” in the BREEAM certification system.
“ELI is pro-actively exploring market niches and follows dynamic growth of the newly emerging logistics hubs. Our projects in Kraków, Lublin, and Toruń are all located along new or planned major transit corridors that will additionally boost economic activity in the respective regions, and attract interest from high-quality tenants. These investments are in line with our strategy of building up strong assets in emerging markets with a growth potential that remains to be explored,” says Łukasz Toczek, Senior Vice President of Investments at Griffin Capital Partners, responsible for developing the ELI platform.
Land acquisitions in H1 2022
During the first six months of 2022, ELI expanded its landbank and added 90,000 sqm GLA of development potential across key logistic hubs in Poland. The new acquisitions are located in Warsaw, Upper Silesia and Łódź. These are key logistics regions in Poland which accounted for approximately 45% of the gross takeup in the country over the 12 months ending March 2022.
“The strong growth of ELI’s portfolio has reflected the dynamic development of the Polish logistics market. The vast majority of new assets which were added to the Polish market over the recent months have been absorbed. We are seeing the potential for continued growth and new investment opportunities, and we are excited about the coming months” says Hubert Rossa, Senior Vice President of Investments at Griffin Capital Partners, responsible for the development of the ELI platform.
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