CBREGI snaps up Warsaw distribution centre

CBRE Global Investors has acquired the Manhattan Business & Distribution Centre in Warsaw.

The logistics facility has been acquired for about €30 mln on behalf of the Pan European Core Fund from the Akron Investment Central Eastern Europe II fund, managed by Heitman International.

'The acquisition of this centre demonstrates the continued attractiveness of Central and Eastern Europe to pan-European real estate investors,' commented Martin Sabelko, managing director of CBRE Global Investors Central and Eastern Europe.

The asset is located in the Warsaw’s Zone 1 South logistics region, comprising approximately 29,000 m2 of warehouse space and 11,500 m2 of offices. It is occupied by 12 national and international tenants including Willson & Brown, Konica-Minolta, Xerox, FujiFilm, Kolporter, Euro-Net and Velux.

The logistics park is situated 2 km from Warsaw’s Frederic Chopin International Airport, the biggest airport in Poland.

This is the PEC Fund'S second acquisition in Warsaw. The first was the Warsaw Distribution Centre which completed in December 2012. The distribution centres are located within 1 km of each other.

Linklaters advised PEC Fund on this transaction. Savills advised Heitman. Michal Cwiklinski, head of investment at Savills Poland: 'This development benefits from a great location with easy access to Warsaw’s key transport hubs and has attracted strong domestic and international occupiers.'

Earlier this month CBRE Global Investors acquired a Class A logistics platform in Criquebeuf sur Seine in northern France on behalf of one of its clients.

The 38,000-m2 logistics platform is fully let to three tenants: Vente-Unique.com, Produits Berger and Carrier Transicold. The asset was developed by Gicram and completed at the end of 2008.