Hillwood Polska has started the construction of a new logistics centre in the Górna district of Łódź. The complex, which is scheduled to come into use in Q3 2023, will comprise more than 97,000 sqm of warehouse space.

Panattoni built and is leasing a new, custom-fit facility to Corning Incorporated, a manufacturer of low-loss optical fibre. The facility is located in Mszczonów, a city near Warsaw, and is more than 20,000 sqm. It was customized to meet Corning’s specific manufacturing requirements for low-loss optical fibre production and to meet demand for high-speed connectivity in Europe and surrounding regions.

The first two warehouses of industrial real estate developer HelloParks have become 100 percent occupied over a few months. The Maglód and Fót developments, which opened earlier this year, are the first industrial buildings in Hungary to meet the sustainability requirements of the Excellent certificate in the BREEAM New Construction category. In addition to Maglód and Fót, HelloParks’ megapark in Páty is also being developed at full capacity. The nearly two-year-old company plans to deliver two more projects in 2022. As a result, the total gross leasable area offered by the HelloParks megaparks in the county will be increased to 160,000 sqm by the end of this year representing a total investment value of €190 million.

Demand for logistics real estate is not slowing in Europe, driving significant upward price growth. This development is further fuelled by increased construction and financing costs in the new-build segment. Overall, 70% of the examined European markets registered substantial growth since the end of the second half of 2021, whereas 30% saw no change in rent levels. The remarkable thing is that no region reported negative rental growth. These are some of the findings Garbe Research presented in its latest Garbe Pyramid Map, the 2022 mid-year update of the company’s yield and rent map for the 122 most important logistics real estate submarkets in 23 European countries.

Representatives from Panattoni and Media Expert, the owner of several hundred electronics stores in Poland, together with Hanna Zdanowska, the mayor of Łódź, on Friday - September 2nd - formally opened the latest section of the Media Expert logistics centre within the Central European Logistics Hub. Two buildings with an area of 160,000 sqm, one of which has just been handed over for use and the other to be completed within a year, have been connected to Media Expert’s pre-existing building to create a nationwide distribution complex. Together, the three buildings take up 232,000 sqm and are to provide employment for around 1,000 people. The total area leased by Media Expert from Panattoni across the Łódź region already comes to over 270 000 sqm with a further 35,000 sqm under construction.

Panattoni has started construction of Panattoni Park Nadarzyn II. The development is being built on a site of almost 20 ha and will take up almost 100,000 sqm.

Warehouse costs increased on average by 8.4% globally and by 6.7% in Europe, with Prague being an outlier, recording an increase of 35.8% in a year due to exceptionally low vacancy. The nationwide vacancy rate fell back to 1.4% in Q2 2022 and this is the lowest level in the market´s history, says Savills in its latest report.

UK-based commercial property fund manager and investor First Property Group concluded the sale of Tureni Logistic Warehouse, with a total area of about 8,300 sqm, in a deal brokered by real estate consultancy company Colliers.

The warehouse sector in Poland remains in good shape after the first half of 2022. The market continues to see high tenant activity (3.7 million sqm; +12% y/y), generated mainly by e-commerce, retail chains, and logistics companies. At the end of June this year, developers delivered another 1.8 million sqm (+64% y/y), with the market still facing a shortage of vacant space. The high absorption rate is influencing decisions to start new investments. The result of 5.6 million sqm (+56% y/y) of projects currently under construction is the highest value recorded in the history of the entire sector. AXI IMMO summarizes the first half of the year in the warehouse market in the report "Polish Warehouse Market in H1 2022."

Bufab Hungary Kft, a subsidiary of Swedish-based Bufab Group leased nearly 2,000 sqm of warehouse and office space in LogiCube Park in Biatorbágy, near Budapest.