ELI, a company incorporated in Netherland, and co-managed by Griffin Real Estate (GRE), finalised the acquisition of a portfolio of nine operating logistics parks developed by Panattoni Europe. The value of the deal is around €200 million. At the same time, Panattoni Europe jointly with ELI plans to invest circa €800 million to enlarge the newly acquired portfolio into a leading Polish logistic platform. GRE and Panattoni will co-manage the new venture going onwards.

The expansion of Romanian retailer Profi Rom Food SRL site in Ploieşti, Romania is at an advanced stage. The extension construction project is due to complete by September 2018.

Panattoni Europe nears the finish line with the launch of its fourth logistics centre in Tricity. Panattoni Park Gdańsk IV, with 41,500 sqm planned at full build-out, is only 4 km away from the Port of Gdańsk and the deep-water container terminal DCT Gdańsk, and the first tenants will be able to move into it already in the coming August.

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.