Panattoni and Marvipol have sold two city logistics parks in Warsaw to LaSalle Investment Management. The facilities, totalling nearly 25,000 sqm, were sold for approx. €30 million.
Panattoni and Marvipol Development signed a sales agreement for City Logistics Warsaw Airport I and City Logistics Warsaw II with LaSalle Investment Management, a real estate investment management firm. Both parks comprise modern Class A buildings, featuring respectively 10,715 sqm and close to 14,000 sqm. The facilities are fully leased and located within the administrative limits of Warsaw. City Logistics Warsaw Airport I is just 6 km from the airport and 9 km from the inner centre of the capital city, right next to the Opacz junction, where the S2 and S8 routes intersect, providing superb connections to both the city centre of Warsaw and the entire country. In turn, City Logistics Warsaw II is situated at ul. Odlewnicza, in the very heart of the industrial and service district of Annopol. A short distance from the city centre and in the immediate vicinity of the Toruń Route, the park makes for regular and timely deliveries to any place in and around Warsaw.
“Urban parks are hugely popular because their location within city limits greatly facilitates efficient distribution of goods along the last mile,” explains Robert Dobrzycki, CEO Panattoni. “This is particularly vital for logistics operators and e-commerce businesses. Being in the city also provides access to excellent infrastructure and an abundant pool of highly qualified employees”.
Uwe Rempis, Managing Director and Fund Manager of LaSalle E-REGI, said: “Logistics has long been a target sector for the LaSalle E-REGI and recent events have only served to strengthen our view of the asset class. Given the rapid expansion of e-commerce – as well as Poland’s developing national road infrastructure, access to low-cost labour and relatively low rents compared to Western Europe – we expect that the portfolio will experience favourable demand fundaments over the coming years, providing long-term secured income for the Fund.”
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