Recently Jones Lang LaSalle announced three major land deals with a total area of ca 60 ha (600,000 m²) that will facilitate the development of more than 300,000 m² of warehouse / industrial accommodation.
The sites are located in Nadarzyn, Teresin (near Warsaw ) and Wrocùaw and involved three of the most significant and active developers in this sector. This further highlights the continued interest from developers / investors in securing a land bank of well located sites thus allowing for a future pipeline of development of warehouse / logistics parks.
Segro has acquired a 35ha site in Nadarzyn, enjoying excellent frontage onto the Katowice highway. The site is already zoned for industrial use and SEGRO will shortly begin the construction of the first phase of the warehouse / logistics park.
On behalf of Whirlpool, Jones Lang LaSalle has sold a site in Psie Pole in Wrocùaw. Parkridge has acquired approx 16 ha for the development of a new concept of in-town warehouse / business park. The project will provide small warehouse / production units combined with a high office content. Parkridge will also develop a number of small stand alone office buildings. The site is located within the Waùbrzyska Special Economic Zone.
In Teresin, a site of 8.5 ha has been acquired by Panattoni, who has already commenced the construction of the first phase of Panattoni Park Teresin. This first phase is being developed on a "build to suit" basis for DSV, a logistics company that is currently based in ProLogis Park Teresin. The next phases are planned to be developed on the speculative basis.
Ben Bannatyne, International Director at Jones Lang LaSalle commenting on transactions said: "Obviously the key for development is securing sites in attractive locations, with the required infrastructure and at the right price. In order to help our key clients identify and secure sites, and thus being able to assist them through every step of the development process from concept through to final sale, we established a team to focus on land acquisition earlier this year and this has proved to be a great success and an additional business line that is highly valued by our clients.
We expect to close on an additional 80ha of land transactions before the end of this year."
On the new concept being developed by Parkridge, Beata Hryniewska, Head of Industrial & Logistics at Jones Lang LaSalle added: "The development of the "in-town warehouse concept" has arisen in order to meet the increasing demand for small warehouse / showroom / production units within city boundaries. Small units (500-1,000 m²) of "A-class" modern warehouses with adjacent offices have become popular with both Polish and Foreign companies. However, to date most companies developed these facilities themselves due to the lack of such product being provided by developers. We believe there is a huge gap in the market for this type of product which is well established in most Western European Markets.
Although the cost of leasing such space is more expensive than locating in a traditional warehouse / logistics park, the convenient location close to the city centre and the ability to lease small flexible units is a major advantage."
Source: Jones Lang LaSalle