Developer Warehousing & Logistics EOOD (W&L) has begun the construction of the newest industrial park in Bulgaria, called Logistics Park Sofia (LPS). The park is located about 8 km from the capital Sofia. W&L is planning to build 4 warehouse buildings in the complex which will span more than 116,000 sqm of industrial and office space that will be available to potential tenants. So far this is the first Bulgarian logistics park with such a high concentration of industrial space.

Biuro Inwestycji Kapitałowych started the second stage of development of the BIK Park Wrocław logistics park. The project will provide approx. 22,500 square meters of warehouse space. Consequently, the surface area of the entire complex will reach the target level of approx. 47,500 square meters. The construction works are planned to be completed by the end of this year.

Despite the COVID-19 pandemic, warehouse take-up hit a record high of 1.6 million sqm, reveals an industrial market summary for Q1 2021 released by global real estate services firm Cushman & Wakefield. The strongest leasing activity was reported in Poznań, the Warsaw area, Upper Silesia and Central Poland.

Agricultural products maker Corteva has pre-leased around 23,000 sqm of industrial space in a built-to-suit warehouse located in northeastern Bucharest. 

Knauf Industries Polska, the world’s leading polystyrene processor, has renegotiated its lease agreement and increased its warehouse and office space in Panattoni Park Wrocław II to 18,000 sqm. The tenant was represented during the negotiation process by real estate advisory firm Cresa.

Crussis Electrobikes, a Czech manufacturer of e-bikes and tricycles has signed a long-term lease for 21,000 sqm in Prologis Park Prague-Úžice. The company will occupy space in building 4B of the park. Real estate agent Marek Sýkora facilitated this transaction.

Panattoni has leased 10,500 sqm to Well Pack in the City Logistics Łódź II warehouse park. The space will be used by the logistics operator for the machine washing and disinfection of reusable food containers for supermarket chains. The tenant will move into its new premises in July, from where it will carry out its main operations.

According to AXI Immo, the Polish industrial market remains in great form. The sector is still attractive in the eyes of investors, and the boom in the e-commerce industry continues to fuel occupier demand. Take-up in Q1 2021 was 59% higher than in the same period last year, at 1.6m sqm. In addition, new sources of financing and greater developer confidence resulted in an increase in the amount of space under construction, which at the end of March 2021 reached 2.3m sqm (+11% y/y). 

The first quarter of 2021 saw record low vacancies in the greater Prague region, affirming consistent high interest in industrial premises in premium locations. High demand is pushing lease prices upwards, with lease prices having grown by 25 % per sqm year-on-year within the Prague cadastral district, for example. The Czech industrial real estate market is being impeded by drawn-out approval processes and a lack of new options in areas with the greatest demand.

According to “Occupier Insight – Industrial and Warehouse Market Q1 2021”, a report prepared by Cresa, gross industrial and warehouse take-up climbed to 1.6 million sqm in the first quarter of this year, representing an increase of 51% compared to the first three months of last year. This result accounts for 46% of the annual average for the last five years and marks a record quarter in terms of leasing activity.