ARTICLES LABELLED WITH TAG Lodz

Panattoni Europe has opened the largest manufacturing facility in its portfolio and the largest plant manufacturing household appliances in Europe – a dishwasher factory for BSH Sprzęt Gospodarstwa Domowego. The facility dedicated to Industry 4.0 was built in Łódź – next to the Central European Logistics Hub – taking up 57,000 sqm. The official opening took place on 10 September, 10 months after the acquisition of the site. The factory neighbours on the BSH Logistics Centre and the upcoming Panattoni Appliance Park, developed specifically to serve BSH’s manufacturing facility.

Łódź’s office market has been well-balanced in terms of demand and supply for several years. According to Cresa’s latest report, the office stock of the Łódź market has increased by nearly 8% year-on-year and amounted to 471,200 sqm at the end of Q1 2019. Take-up in the first quarter of 2019 reached 15,100 sqm, up more than 50% on the same period in 2018.

Panattoni Europe commenced the construction of Panattoni Park Sosnowiec II, totalling nearly 80,000 sqm. Panattoni Europe will also build an e-commerce logistics centre totalling in excess of 44,800 sqm for Amazon in Pawlikowice near Łódź, providing permanent jobs to more than 1000 people.

Panattoni Europe announces that Tritax EuroBox, which invests in Continental European logistics real estate assets, has exchanged contracts to acquire a prime, modern national logistics facility at Strykow, Lodz, in Central Poland, let to Castorama Polska Sp. z o.o., one of Europe’s leading DIY retailers and part of Kingfisher plc. The total consideration payable by the company is €55 million (excluding purchaser's costs), reflecting a gross initial yield of 5.8% on the asset acquisition.

The Imagine office complex in Łódź is entering its final phase of development. Buildings A and B feature the symbolic topping out, which means that the highest construction point has been reached. The investment carried out by Avestus Real Estate at the intersection of Piłsudskiego and Śmigłego-Rydza avenues in Łódź will be ready to receive tenants in Q3 2019.

Trei Real Estate GmbH is expanding its Polish investment portfolio in the retail sector. The real estate company, part of the German Tengelmann Group, has opened its tenth Polish retail park under the Vendo Park brand in Łódź, its second investment in the city. The total cost of building Vendo Park at Gojawiczynska Street in Łódź was approximately €4.4 million.

Panattoni Europe has laid the cornerstone to mark the beginning of the construction of a dishwasher factory for BSH Sprzęt Gospodarstwa Domowego, dedicated to Industry 4.0. The facility, featuring close to 58,500 sqm, is being built in Łódź next to the Central European Logistics Hub and is the developer’s largest manufacturing project. Completion of construction works and handover of the facility to the investor is planned for the beginning of 2019, and first appliances will leave the factory in mid-2019.

Warimpex officially opened Ogrodowa Office, a modern office building in the centre of Łódź, located in the vicinity of Piotrkowska street, the Manufaktura, and Vienna House Andel’s Łódź. The building provides more than 28,000 sqm of space, of which nearly 4,000 will be occupied by commercial and service outlets as well as food amenities. The building has received the occupancy permit and the first tenants of office and service premises have already moved in.

Prologis celebrated the topping out of the first facility at its new Prologis Park Łódź. The roof progress means construction of the 16,500 square meter building is on track for completion in early 2019. The park has the development potential for three facilities totalling 93,000 square meters.

Despite the anticipated large wave of new office supply, the Łódź market is well-balanced. Rents hold firm and tenants continue to target office buildings in the city centre.