Savills Investment Management and Vestas Investment Management have agreed on two lease extensions totalling 46,000 sqm in France and Poland.
VM Building Solutions, a European supplier of zinc, EPDM, and copper materials for roofing and façade applications, has extended its lease for six years, covering 37,025 sqm at Lambres-lez-Douai Logistics Park in Northern France. The building holds a BREEAM New Construction 'Very Good' rating and is managed by Savills IM for its Vestas European Strategic Allocation Logistics Fund I.
In Southern Poland, Omida Solutions has extended its lease for five years, covering 8,695 sqm at Beskid Park II, a logistics park in Czechowice-Dziedzice. The park was purchased on behalf of Vestas European Strategic Allocation Logistics Fund II and consists of five buildings totalling around 90,000 sqm, all holding BREEAM 'Very Good' ratings.
Laurent Vouin, Head of France Savills Investment Management, said: "Securing long-term commitments from these tenants reflects the strength of our logistics portfolio and the confidence tenants place in these assets. In today's more volatile European lettings market, the standard and connectivity of these assets, combined with our proven asset management approach, allows us to continue delivering long-term and stable income across Europe's key logistics corridors."
Isabella Valgimigli, Portfolio Manager at Vestas Investment Management Europe Ltd, said: "We are delighted to have secured lease extensions with two key tenants at our logistics assets in Poland and France. These renewals underscore the continued strength of our tenant relationships and the strategic importance of our assets in core European logistics hubs."
