ARTICLES LABELLED WITH TAG warehouse

Accelerate Property Fund, a JSE-listed real estate investment trust, has announced it will acquire a portfolio of five single-tenanted, long-lease, light industrial properties in Poland for €41.9 million from Panattoni Europe.

A second building is under construction at the Páty industrial park right after the handover of the first facility. This time Inpark develops a built-to-suit, energy efficient warehouse to leading electronics retailer Euronics, with a total budget exceeding €8 million (HUF 2.5 billion), to be delivered next spring.

Poland’s warehouse supply hit a record high at the end of Q3 2017. The industrial stock totalled 12.86 million sqm, which represented an 18% rise year-on-year. Tenant demand remained robust on the country’s core warehouse markets, driven largely by logistics operators whose share in total take-up amounted to 45%. The vacancy rate slipped down by 0.8 percentage points year-on-year while headline and effective rents remained largely unchanged, reveals Cushman & Wakefield.

Real estate developer Zacaria announced the expansion of Western Industrial Park in Oradea with a new warehouse of more than 6,300 sqm, already commissioned by a German tenant in the process of opening its first subsidiary in Romania.

German discount supermarket chain Penny Market opened a logistics centre in Veszprém, Western Hungary, following a nearly €30 million (HUF 9 billion) investment. The facility offers 26,500 sqm of warehouse space on a 10 ha land. The new warehouse can hold 15,000 pallets.

DHL Express recently moved into its new, tailor made warehouse of 6,000 sqm leased in Budapest Airport's new logistic facility built by Market Építő. Budapest Airport appointed CBRE Hungary for the construction management services.

Prologis has begun construction of a new 23,710 square metre build-to-suit facility at Prologis Park Prague-Rudna for VAFO PRAHA, the Czech family-owned pet food producer. With construction of Building 19, the park will be fully developed and will comprise almost 250,000 square meters of distribution space.

The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, Romanian real estate developer Zacaria announced. Southern Industrial Park will comprise 43,000 sqm of Class A industrial space, fully equipped for activities such as storage, logistics, cross-docking or manufacturing.

The industrial real estate market in Hungary hit the vacancy rate of 5.5% in the first half of 2017, which is the lowest number on record since it has been measured by the Budapest Research Forum (BRF). In total, less than 73,000 sqm space is currently vacant in the Budapest metropolitan area of the 1.95 million sqm total modern logistics area, and only four Class A buildings can offer more than 5,000 sqm contiguous warehouse space. The lack of available space is due to the strong absorption of the last few years, and at the same time there are still limited number of speculative projects in progress or have building permits, says Tamás Beck, Director of Industrial Agency at Colliers International Hungary.

Panattoni Europe has signed a lease with Multidekor, maker of professional ornaments and festive lighting solutions for cities and shopping malls. The transaction covers 22,600 sqm of warehouse and production space at the planned Panattoni Park Konotopa II. The development is set to commence this autumn, and will be completed in April 2018.