ARTICLES LABELLED WITH TAG industrial

The local market for logistics and industrial spaces accelerated expansion in 2020 both in terms of demand, which approached the threshold of 1 million sqm, and in terms of deliveries of new spaces, which reached an area of ​​649,000 sqm, both indicators reaching new records, according to real estate consulting company Cushman & Wakefield Echinox.

Disruptions from the pandemic are poised to continue, according to the Prologis Logistics Rent Index. Lockdowns and other COVID-19-related situations may constrain customers’ operations, though the volatility is expected to be less severe than in 2020 as many customers now have better supply chain visibility.

There is currently a shortage of industrial and logistics space on the Czech market, in addition to a lack of land suitable for their construction. This is mainly due to growing demand and the fact that local governments aren’t motivated by tax benefits to allow their construction. The situation is most evident in the vicinity of large cities, and also affects the growth of rent levels. Moreover, it has also caused a new trend in the form of the extension of rent contracts. The first new projects of over 20,000 sqm can only be expected in the second half of 2022. 

The highest ever 5.2 million sqm of warehouse space was leased in 2020 as a result of significant changes in consumer behaviour in this exceptional year. The industrial and logistics sector was the fastest to adapt to the new requirements linked with the COVID-19 pandemic, quickly adopting supply chains and ensuring health and safety to workers and customers. 2020 was also the year of rapid growth of all segments related to the e-commerce sector. In the coming years, e-commerce will set the pace of development for the entire warehouse market in Poland. AXI IMMO presents their report Polish Industrial & Logistics Market in 2020.

Accolade and Panattoni are continuing the extensive revitalization of a former settling reservoir in a sugar factory near Kojetín in the Olomouc region. The CZK 3 billion industrial complex, designed and constructed aligned with the latest trends in e-commerce and targeting future local and foreign tenants, will be completed by the end of the year 2022.

In 2020, total warehouse take-up hit close to 5 million sqm for the first time in history, representing a 24% increase year-on-year. New leases and expansions accounted for nearly 70% of that total, equating to approximately 3.45 million sqm. Cushman & Wakefield has summarised 2020 on the Polish industrial market.

CBRE has selected large plots of land suitable for industrial construction with a total area of ​​250,000 sqm in a strategic location right next to the D11 motorway near Hradec Králové and mediated their sale. In cooperation with Panattoni, a new logistics centre for a major retail player (also represented by CBRE) with an area of ​​50,000 sqm will soon be built here. Up to 900 jobs will be created in the region in the future.

Any investor who observes the real estate market right now is likely to start with warehouse assets. This trend has already been visible, but the consequences of the COVID-19 pandemic have accelerated it to an astonishing degree, says Robert Dobrzycki, Chief Executive Officer of Panattoni who talked to Property Forum about the driving forces behind the growth of the warehouse market.

Panattoni has launched its latest park in Poland’s Małopolska region. Panattoni Park Kraków East II will be situated on the eastern side of the Kraków conurbation, just off the Targowisko junction of the A4 motorway, and is to have an area of ​​almost 19,000 sqm. Panattoni’s presence in the region has since expanded to 4 existing projects with a total area of ​​100,000 sqm. As soon as late July or early August this year, the first tenant, Kenig Spedition, will be moving into 9,200 sqm of the complex, which will be used for logistics, service and production processes for its clients – manufacturers of pallets and packaging. The lease was mediated by consultancy Axi Immo.

CTP invests over €35 million in the construction of the new warehouse for Quehenberger Logistics in CTPark Bucharest West, the company announced.