ARTICLES LABELLED WITH TAG logistics

7R has finalised the sale of 7R City Flex Gdańsk II. The new owner of the warehouse is GLP Europe. The facility comprises 11,000 sqm of space – currently fully leased by leading brands from the food and FMCG sectors. The price has not been disclosed.

Demand for modern industrial space is still considerably high though European manufacturing companies are not taking home their production as quickly as earlier expected. Meanwhile, Asian firms in the automotive industry are increasingly seeking proper warehouses and logistics service providers. Property Forum asked Máté Szoboszlay, Director of Capital Deployment at Prologis Hungary about the change in e-commerce-related demand and the special needs of Asian tenants.

7R has started work on 7R Park Wrocław West II. This is the company's first development made in accordance with its new decarbonisation strategy. In this case, carbon dioxide emissions will be reduced by more than 50%.

A logistics service provider has renewed and expanded its lease in GLP Pomeranian Logistics Centre. Under its new contract the tenant will occupy approximately 22,000 sqm of warehouse and office space in the complex. Real estate advisory firm Newmark Polska was instructed to negotiate the terms of the lease.

Hillwood Polska has signed credit agreements with Bank Pekao S.A. for the construction of three warehouse projects: in Częstochowa, near Rawicz, and in Łazy near Warsaw, with a combined value exceeding €89 million.

According to AXI Immo, more challenging economic situation and a ‘wait and see’ approach adopted by market players have been the key factors affecting the Polish industrial real estate sector in H1 2023. Gross take-up amounted to 2.24 million sq ]m (-39% y/y) between January and June. A soft patch was also visible on the supply side. Although a relatively large amount of space was added to the market in H1 2023 (2.6 million sqm, marking a 9% y/y increase) and total stock increased to 30.6 million sq \m, there was only 2.13 million sqm under construction as at the end of June 2023 – 50% less compared to a year earlier. The vacancy rate climbed to 6.7% at the end of Q2, marking a 3.3 p.p. increase on Q2 2022.

MCG EastBridge, part of the Maszoński Group's portfolio is growing. Following a record-breaking deal on the Kraków warehouse market in Q1 2023 for nearly 37,000 sqm at GLP Kraków III Logistics Centre, the company decided to expand by more than 19,000 sqm. Under the signed agreements, MCG EastBridge will occupy a total of 56,200 sqm and will be a single occupier in the development, which is being built in the Niepołomice Investment Zone near Kraków. The two-stage lease is the largest signed transaction in the Polish warehouse market in the first half of 2023. In both cases, MCG EastBridge was represented by AXI IMMO.

MDC2, together with the investor, Invesco Real Estate, finalized the lease of 10,784 sqm of space in MDC2 Park Gliwice. The tenant is an international manufacturer providing comprehensive IT solutions for energy markets, service providers, enterprises and industrial markets.

Warehouse developer LCube has secured planning permission for another of its investments – Lcube Mszczonów. The project calls for the development of an industrial and warehouse park, spanning approximately 31,500 square meters on a nearly 8-hectare site.

Panattoni has received financing from BNP Paribas Bank Polska for the largest industrial park in Bydgoszcz. The €54 million loan is for the developer to finance Panattoni Park Bydgoszcz IV – a 110,000 sqm complex of three buildings that was handed over in July this year and is now 90% commercialised