Urbano Parks, a development company created by entrepreneurs Mircea Ilea, Alexandru Serban and Daniel Paraschiv in Cluj-Napoca, said over 95% of construction works on the first phase of Urbano Cluj Vest logistics park have been completed. The first tenants could move in next month.

VGP, a European provider of high-quality logistics and semi-industrial real estate, has successfully priced an offering of €200 million in gross proceeds by means of a private placement of new ordinary shares via an accelerated bookbuild offering to international institutional investors of 2.00 million new shares (approximately 10.8% of the company's outstanding shares on completion of the offering) at an issue price of €100.00 per share, representing a discount of 4.58% compared to the last traded price of the company’s share on 21 April 2020 of €104.8.

7R will make its debut on the Lublin market. The planned investment – 7R Park Lublin – will be a complex of modern warehouse facilities located in the industrial part of the city.

Total demand on the Budapest industrial market amounted to 79,660 sqm in Q1 2020, indicating a 5% decrease from the figure noted in the same period last year. Lease renewals accounted for an outstandingly high ratio, reaching 85% of the quarterly volume. The Budapest Research Forum published its quarterly industrial market analysis

Panattoni is building the first modern multi-tenant distribution centre in the Warmia and Mazury region. Panattoni Park Olsztyn, featuring in excess of 36,000 sqm, will be delivered in the Stawiguda commune, in the immediate vicinity of the Olsztyn Południe junction, connecting S51 with S16, approx. 20 km from the S7 route. The project will be implemented in several stages and the first tenants will able to move to in as early as August this year. One of the factors which made the launch of the project possible was the lease by A&E Clothing, an American company specialising in textile recycling, which will take up in excess of 7,500 sqm of office and production space. The deal was negotiated on behalf of the customer by Axi Immo.

Warehouse developer 7R is to build a specialized facility for Cefea – a company dedicated to the manufacturing, distribution and import of pharmaceutical products. The tenant will move into 7R City Flex Warsaw Airport I in July of this year.

Hartwig Gdynia has leased 5,200 sqm of warehouse and office space in the Pomeranian Logistics Centre. The tenant was represented during negotiations by Cresa.

Singapore-based alternative asset manager Elite Partners Capital has announced the first close of its pure-play Elite Logistics Fund. Launched in January 2020, Elite Logistics Fund, which targets investment opportunities in the EU and UK logistics sectors, now holds more than 372,000 sqm of logistics assets in Poland and the UK.

Erste Real Estate, a subsidiary of Erste Bank Hungary, has signed an agreement to sell 57 hectares of a 170-hectare plot in Ecser, next to Budapest, to an international logistics company that intends to build a 100,000-square-meter high bay warehouse on the plot. VLK Cresa assisted the seller in this transaction.

At the start of the year, investment into Polish commercial real estate was dominated by logistics. Warehouse assets worth €1.46 billion changed hands in Q1 2020, which almost equals the annual total for 2019 of €1.48 billion, according to a report by Renata Osiecka, AXI IMMO’s Managing Partner.