Titanx Engine Cooling, a supplier of cooling systems for commercial vehicle manufacturers, is ramping up its production and distribution capacity at CTPark Opole in the Silesian region of southwest Poland by leasing an additional 27,000 sqm of space. The new capacity will help meet strong demand from customers in its key German, Polish and Czech markets.
CTPark Opole, located in a tax-friendly Special Economic Zone (SEZ) between Katowice and Wroclaw, was CTP’s first industrial and logistics development within its Polish portfolio in 2018 and TitanX was one of the maiden tenants at the park, initially leasing 11,582 sqm. The company’s footprint in Opole will now grow by 18,230 sqm with CTP starting construction of a new build-to-suit facility that is due to be delivered in October, and by a further 8,700 sqm following two additional lettings to the end of 2025.
Thanks to its SEZ status, CTPark Opole is able to offer tax incentives to companies opting to locate in this area, part of the largest industrial region within Central and Eastern Europe. The park is situated to the north-west of Opole, close to the northern ring road connecting to the A4 motorway which links the south of Poland to Germany and is 56 km from the Czech border.
Bogi Gabrovic, CFO at CTP Poland said: "The ongoing expansion of CTP’s Polish portfolio reflects the sustained demand for high-quality industrial and logistics space within the region. TitanX is a prime example of our business partners taking full advantage of CTP’s expansion opportunities, underpinning their confidence in our ability to support their continued and long-term growth. Strong tenant interest is underpinned by sectoral trends such as the ‘nearshoring’ of supply chains and manufacturing closer to consumer markets, coupled with low vacancy rates of 4.1%. This means that Poland’s industrial and logistics real estate sector will continue to be a strong performer across CEE markets."
Cedric Huslin, CEO TitanX added: "We successfully settled in Opole back in 2018, and our subsequent expansion there represents a new milestone for TitanX’s development in Europe. Opole serves as a central footprint in Europe, effectively serving both our regional and international customers whilst providing a skilled and highly engaged workforce to drive the future of TitanX. Our new facility in CTPark Opole will form the cornerstone of our strategy to consolidate our leading position in thermal management while developing innovative and competitive solutions to accelerate efforts to create greener and more sustainable transportation.”
CTP is on track to develop more than 80,000 sqm of new space at CTPark Opole, to be delivered at the beginning of 2024. Current tenants include Raben, UFI Filters, International Automotive Components (IAC) and more recently ELSTEEL, one of the leading suppliers of low-voltage electrical enclosures which has selected the park for its Polish headquarters.
In line with CTP’s high sustainability standards, CTPark Opole makes efficient use of energy, water, and other natural resources, with a view to minimizing the park's environmental impact. A Building Management System controls and monitors energy consumption, allowing tenants to optimize usage and reduce energy costs where possible. All buildings in CTP’s portfolio are BREEAM-certified and have roofs prepared for the installation of photovoltaic systems to facilitate access to renewable energy sources.
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