LaSalle Investment Management has purchased two city logistics parks in Warsaw, Poland.
The price tag was €30 mln and the vendor in the transaction was leading industrial developer, Panattoni, which also built the sites.
Comprising 25,000 m2 of rental space, the buildings are located near Warsaw Airport to the north of the capital city.
Both parks are both fully let with a mix of tenants, including an international customs services and customs compliance firm, a logistics operator and the largest supplier of woodworking machinery in Poland.
LaSalle made the purchase on behalf of its open-ended pan-European real estate fund named E-REGI, focusing office, retail and logistics.
Robert Dobrzycki, CEO of Panattoni, said: 'Urban parks are hugely popular, because their location within city limits greatly facilitates efficient distribution of goods along the last mile. This is particularly vital for logistics operators and e-commerce businesses. Being in the city also provides access to excellent infrastructure and an abundant pool of highly qualified employees.'
Uwe Rempis, managing director and fund manager of LaSalle E-REGI, said: 'Logistics has long been a target sector for the LaSalle E-REGI and recent events have only served to strengthen our view of the asset class.
'Given the rapid expansion of e-commerce – as well as Poland’s developing national road infrastructure, access to low-cost labour and relatively low rents compared to Western Europe – we expect that the portfolio will experience favourable demand fundaments over the coming years, providing long-term secured income for the fund.'
