ARTICLES LABELLED WITH TAG industrial

One of the most active industrial and logistics developers of the region has announced major expansion plans for Hungary this year. CTP hopes to increase the value of its Hungarian portfolio to €320 million by the end of 2018 from the current €250 million. Rudolf Nemes, CTP’s Country Manager for Hungary talked about changing tenant needs and challenges on the labour market.

Żabka Poland opened a new warehouse facility with the area of 24,700 square meters. The new logistics centre leased by the owner of the convenience store chain is located in the MLP Gliwice park owned by MLP Group.

Cromwell Property Group has sold the Čestlice Business Park in Prague-East for €17.5 million to an undisclosed buyer.

Panattoni Europe commenced the construction of a new distribution centre near Warsaw. Completion of the first part of the investment is anticipated in February 2019. The lease transaction was mediated by the advisory firm JLL.

In Q1 2018, Poland’s total warehouse and industrial stock amounted to more than 14.15 million sqm and another 1.90 million sqm was under construction, the largest quarterly development pipeline on record. Central Poland was the leading regional market, accounting for more than half of new supply and most of the leasing transaction volume.

Element Industrial, a property developer founded by businessman Ionut Dumitrescu, has recently entered the logistics market by announcing its first project, Eli Park 1 in the Chitila area, west of the Romanian capital. The project will require an investment of €25 million.

Panattoni Europe has sold another logistics facility, Panattoni Park Warsaw West V totalling 70,000 sqm. The buyer is a Dutch company controlled by one of the leading global real estate investment firms, for whom this is the first investment in the Polish warehouse market.

Richard Wilkinson is joining CTP as Group Chief Financial Officer (CFO) effective 1 July 2018 and will be working closely with Robert Pitt, COO, and Remon Vos, CEO, to secure growth, increase market share and profitability.

Panattoni Europe is developing another warehouse facility for an e-commerce business. This time it is expondo Polska, which will take up 30,000 sqm at Panattoni Park Zielona Góra, currently under development. The tenant will be able to move into the complex already in the coming October.

JLL's industrial real estate portfolio has expanded with the warehouse development called DOCK, owned by Dock Ingatlan Kft., in the Csepel Free Port area of Budapest. Following the real estate development in the 3.5-hectare area, a total of 15,000 square meters will be available for rentable warehouse space. Additionally, as a further development potential, the owners also highlighted the area of 80,000 square meters located on the northern part of the Free Port.