Portfolio covers 47 logistics properties across Poland, Hungary, Romania, the Czech Republic and Slovakia
Global real estate services firm Cushman & Wakefield has been appointed by Logicor to manage a portfolio totalling more than 1.7 million square metres of logistics real estate across dozens of sites in Central & Eastern Europe (CEE).
Strategically located along busy trade routes in Poland, Hungary, Romania, the Czech Republic and Slovakia, the portfolio – comprising of 47 logistics parks Logicor owns and operates in CEE – will be managed by Cushman & Wakefield’s EMEA Asset Services business.
The portfolio includes 33 logistics parks (1,297,000 sq m) in Poland, located in Warsaw suburbs, Central Poland, Wrocław, Silesia, Kraków, Rzeszów and Poznań. A further eight logistics parks (175,600 sq m) are in Hungary, four properties (159,000 sq m) in Romania, one (64,120 sq m) is in the Czech Republic and one (26,000 sq m) in Slovakia.
The Logicor account will be led by Zuzanna Paciorkiewicz, Cushman & Wakefield’s Head of Operations for Asset Services Poland, who will oversee teams based in Warsaw, Budapest, Prague and Bucharest as well as those on site.
Zuzanna Paciorkiewicz, Account Lead, Head of Asset Services Poland, Cushman & Wakefield, said: “Logicor has one of the largest directly-owned networks of logistics real estate in Europe and we are proud to be entrusted with managing a significant proportion of it in the CEE region. The portfolio also takes the total amount of property that we manage in Poland to 3.2 million square metres, making us the number one property management services provider in the country by space managed.”
The portfolio adds to the approximately 30 million square metres (323 million square feet) of commercial real estate in 14 countries managed by Cushman & Wakefield’s EMEA Asset Services business which provides property management services on behalf of corporate, institutional and private clients across the region.
Tina Reuter, Co-Head of EMEA Asset Services, Cushman & Wakefield, said: “Our value-adding Asset Services platform is focused on driving operational excellence, innovation and exceptional outcomes for our investor clients. We look forward to working with Logicor to deliver active and sophisticated management on this significant cross-border logistics portfolio.”
Source: Cushman & Wakefield
Report – Warehouse market in Q3 2019, Poland: The warehouse sector in Poland has recorded another good quarter. In June to September 2019, over 830,000 sq m of modern warehouse space was rented, of which 56% constituted new lease agreements. 990,000 sq m were delivered on the market, and 1.85 million sq m remains under construction. The availability of space increased slightly to 6.2%. This trend should continue in the following quarters – states the report “Report – Warehouse market in Q3 2019, Poland” summarizing the third quarter of this year in the warehouse market prepared by AXI IMMO experts.
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year. Equity (net assets) rose 10.6% YTD, to PLN 902m. The total leased area grew
by more than 30% year on year.
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