Logivest secures Cross-Dock Warehouse for Westar Internationale Spedition GmbH

In a significant logistics deal, Logivest, the leading real estate consultancy specializing in logistics, has brokered a long-term lease for Westar Internationale Spedition GmbH, a medium-sized international freight company. The company will take over a cross-dock warehouse covering approximately 5,000 square metres, alongside an additional 5,000 square metres of open space in Wuppertal, North Rhine-Westphalia.

The property, located at Hölker Feld 42, is owned by freight forwarder Nüllig & Haß oHG, which manages several facilities in the industrial zone. The new space is set to accommodate Westar’s expanding order volumes as it aims to optimize its operations near its headquarters in Remscheid, just 10 kilometres away.

The newly leased facility features over 30 covered ramps, facilitating efficient goods transshipment. It also boasts a large open area, ideal for manoeuvring, parking, and storage, offering the company flexibility as it scales up operations.

Strategically located in the heart of the Bergisches Land region, the Wuppertal property enjoys excellent connectivity to key motorways, including the A1, A43, and A46, linking it seamlessly to the Rhineland and the Ruhr area. The site is also easily accessible by public transport, ensuring convenience for employees.

“This region’s topography offers limited availability for new logistics spaces, making cross-dock warehouses of this size particularly scarce,” said Ilias Krause, Consultant Industrial & Logistics Letting at Logivest NRW GmbH. “This lease highlights our expertise in finding optimal solutions in challenging markets.”

Jürgen Ott and Sebastian Nickel-Eberle, managing directors of Westar Internationale Spedition GmbH, expressed their excitement over the new acquisition: “Securing this facility marks a significant milestone for Westar. The cross-dock warehouse provides us with ideal conditions to meet growing customer demands and continue our expansion in a future-focused manner. We’re proud to strengthen our presence in the Bergisches Land region with this investment.”

Westar is scheduled to move into the Wuppertal facility on 1 January 2025, solidifying its operational base in the region for the foreseeable future.

Ghelamco secures financing for The Bridge in Warsaw from Santander Bank Polska

Developer Ghelamco has secured significant financing from Santander Bank Polska for its flagship office complex, The Bridge, located in Warsaw. The financing package includes a construction loan of approximately €181 million, a VAT loan of up to PLN 35 million, and an investment loan of around €185 million.

“The funding will enable us to complete The Bridge on schedule, while also ensuring the highest standards of finishing and implementing cutting-edge solutions. This will be our most technologically advanced and environmentally sustainable project to date. We are confident that The Bridge, like Warsaw Spire, will set a new benchmark for the Polish office market,” said Jarosław Zagórski, Managing Director of Ghelamco Poland. He emphasized the importance of the financing deal with Santander Bank Polska, which is not only providing the loan but has also become a key tenant in the development.

Brendan Long, Head of Property at Santander Bank Polska, praised the project, saying, “We congratulate Ghelamco on its vision to create a fantastic office space in Warsaw, blending modern and historic architecture. Santander Bank Polska is proud to support this market-leading ESG initiative and is committed to backing projects that contribute positively to Poland’s future.”

In September 2024, Santander Bank Polska became the strategic tenant of The Bridge, signing a lease for nearly half of the complex—around 24,500 sqm across 19 floors. This agreement marks the largest lease transaction on the Polish office market since 2022.

The Bridge is a prominent new development in Warsaw’s Wola district, combining a 40-storey skyscraper with the historic building of the former Bello Publishing House. Together, the structures will offer 52,000 sqm of premium office space at Plac Europejski, one of Warsaw’s key business hubs.

Ghelamco Poland, a major player in the commercial real estate sector, has been active in Poland for nearly 30 years, delivering over 1 million square meters of office, residential, retail, and warehouse space. The company’s iconic Warsaw Spire complex remains a flagship development in the capital’s skyline.

Santander Bank Polska, one of Poland’s top universal banks and a subsidiary of Spain’s Santander Group, continues to strengthen its presence in the country. With total assets amounting to PLN 276.65 billion at the end of 2023, Santander Bank Polska plays a significant role in Poland’s financial sector, offering a wide range of services including investment funds, insurance, leasing, and factoring.

Source: Santander Bank Polska and ISBnews

Czech railways see 4% rise in passenger numbers in first half of 2024

Czech train carriers transported 92.1 million passengers in the first half of 2024, a nearly four percent increase compared to the same period last year, according to preliminary data from the Ministry of Transport. The figures were published by the Czech Statistical Office. Of this total, the national carrier, Czech Railways (ČD), handled 81.6 million passengers, marking a 3.2 percent year-on-year rise, according to ČD spokesman Filip Medelský.

The growth in passenger numbers is largely attributed to the introduction of new trains, which have boosted capacity and improved service quality. However, the first-half figures remain about five percent below pre-pandemic levels, as trains carried nearly 97.1 million passengers in the first half of 2019. In the second quarter of 2024, 47.8 million passengers used the railways, up four percent from the previous year.

In terms of passenger transport distance—measured by the total kilometers traveled by all passengers—rail carriers logged 5.17 billion kilometers in the first half of the year, a year-on-year increase of nearly 13 percent. This figure is just 1.3 percent lower than the distance covered in 2019. Czech Railways alone accounted for 3.91 billion kilometers, an 8.5 percent rise compared to the previous year.

Czech Railways reported particularly strong growth on international routes, including the Berliner and Vindobona lines, which connect Prague with Vienna, Dresden, Berlin, and Hamburg. On domestic routes, demand has been highest on lines featuring newly deployed trains. “With the ongoing delivery of new vehicles this autumn, including regional RegioFoxy and RegioPanter trains and long-distance ComfortJets, we expect continued growth in customer numbers,” said Medelský.

Private operators such as RegioJet and Arriva are also benefiting from increased passenger demand. RegioJet plans to expand its fleet this autumn with six new TRAXX MS3 locomotives, with another seven arriving next year. Arriva, according to spokesman Jan Holub, is seeing growth on routes where its trains compete effectively with car travel in terms of speed and service quality.

Despite growing leisure travel demand, the impact of the COVID-19 pandemic continues to shape commuter habits, with more people working from home or using video conferencing. Medelský noted a slight increase in the average travel distance, which rose by 2.4 kilometers to 48 kilometers.

In 2023, Czech rail carriers transported 184.6 million passengers, nearly ten percent more than in 2022, reaching 95 percent of the passenger numbers recorded before the pandemic in 2019.

Source: ČD and CTK

CTP expands partnership with FAN Courier, leasing 4,500 sqm in CTPark Deva

CTP has strengthened its partnership with FAN Courier by leasing an additional 4,500 sqm in CTPark Deva. This latest expansion brings FAN Courier’s total leased space in CTP’s portfolio to over 10,000 sqm, with the company already operating in CTPark Sibiu East and CTPark Craiova East.

CTPark Deva, located in Transylvania at the heart of Romania, offers a strategic position ideal for central distribution centers and manufacturing activities. The park’s proximity to the A1 Motorway connects it seamlessly to the country’s major logistics hubs, and it also benefits from access to public transportation, making it a prime location for both operations and workforce needs.

Jovan Radosavljevic, Managing Director of CTP Romania, commented: “Expanding our long-standing partnership with FAN Courier is a moment of pride for us. We have supported their impressive growth over the years, and this new location marks another milestone in our collaboration. CTPark Deva will serve as a vital logistics hub for FAN Courier, helping them continue their expansion by leveraging the park’s modern infrastructure and excellent connectivity.”

CTP’s ongoing expansion of its industrial and logistics parks across Romania aims to provide clients with tailored solutions and operational flexibility. FAN Courier’s expansion at CTPark Deva demonstrates how CTP’s national network helps clients scale their operations quickly, offering options that aren’t available on other logistics platforms.

CTPark Deva offers direct access to the A1 Sibiu-Deva Motorway, located just 2 km from the city center, making it ideal for logistics and manufacturing activities. The park also features cross-docking facilities and easy access to public transportation.

In recent years, Deva and its surrounding areas have emerged as key hubs for companies in the automotive and high-tech industries, driven by nearshoring trends. Supply chain disruptions caused by the pandemic and geopolitical tensions, coupled with new EU regulations, are encouraging more firms to establish operations in Central and Eastern Europe.

CTPark Deva still has over 6,000 sqm of available space, providing excellent opportunities for companies in the logistics and manufacturing sectors looking to optimize distribution and benefit from the park’s strategic location.

GARBE PARK České Budějovice will house a branch of an international logistics service provider

A leading international logistics and transport company has secured 1,500 sqm of space at GARBE PARK České Budějovice. The lease will be part of a new hall, totaling 3,900 sqm, with construction set to begin this month and completion expected in the second quarter of 2025.

“The tenant portfolio in our industrial park is expanding rapidly, and we’re excited to welcome our first logistics company. This new tenant joins a growing list that includes HAUSER, Taconova, NOBO AUTOMOTIVE, and a supermarket currently under construction,” said Veronika Zacha, Head of Business Development CZ at GARBE. “We’re also in discussions with another party to lease the remaining 2,400 sqm in the hall.”

The new tenant, one of the largest transport operators in the Czech Republic, chose GARBE PARK for its strategic location and accessibility. “Their decision underscores the park’s appeal, especially its proximity to major transport routes,” Zacha added. GARBE is also beginning construction of two turnkey buildings for upcoming tenants, which will feature high technical standards and sustainability measures.

The České Budějovice project is being developed in two phases. The first phase includes the remaining 20,000 sqm of space, with a logistics hall and supermarket in progress. This phase has a building permit in place, and facilities can be delivered within eight months of contract signing. The second phase, located nearby, will offer an additional 130,000 sqm, suitable for light manufacturing or logistics.

GARBE PARK benefits from its location just 2 km from the future D3 motorway, connecting Prague with the Czech-Austrian border via Tábor and České Budějovice. The park’s close proximity to České Budějovice airport adds another logistical advantage. The project is also focused on sustainability, aiming for energy efficiency and low operating costs for tenants.

Panattoni Park Tricity East V fully leased: KMC Services Secures 15,000 sqm

Panattoni has fully commercialized the first phase of its Panattoni Park Tricity East V development, leasing nearly 15,000 sqm to logistics provider KMC Services. With this agreement, the 50,000 sqm building, completed in the first phase, is now fully occupied. Plans for a second building are underway, with the entire park eventually expected to cover 105,800 sqm.

KMC Services, known for its comprehensive logistics solutions including warehousing, e-commerce services, customs, and both road and sea transport, has leased 15,000 sqm of warehouse space alongside 200 sqm of office space in the facility. This move is part of KMC’s broader strategy to enhance its intermodal north-south logistics capabilities in Poland.

“KMC Services is actively pursuing expansion, particularly with the creation of a comprehensive logistics network across Poland,” said Maciej Pichór, Logistics Director at KMC Services.

Panattoni’s Leasing Director, Martyna Sochaczewska, highlighted the park’s strategic location near the Baltic Hub Deepwater Container Terminal and the A1 motorway, making it an ideal logistics hub for operations across Poland and Europe.

As part of Panattoni’s commitment to sustainability, the park will undergo BREEAM certification, aiming for an Excellent rating. The site will feature eco-friendly initiatives such as water and energy-saving systems, insect shelters, and green areas, including a pocket park near the office entrance.

Developer Pierre Grafen and Luxent launch sales for Nová Cihelna Kladno apartments

In a significant step toward sustainable urban development, developer Pierre Grafen, in collaboration with real estate agency Luxent – Exclusive Properties, has announced the launch of sales for the Nová Cihelna Kladno project. Located in a quiet part of Kladno, this upscale residential development will offer 104 low-energy apartments spread across six buildings on the site of a former brickyard. With a focus on sustainability and energy efficiency, the project promises to deliver modern, environmentally-friendly homes while revitalizing a historically significant part of the city.

The Nová Cihelna Kladno project, expected to begin construction in spring 2025 and complete by the end of 2026, has already secured planning permission. It represents a €11 million investment and is set to transform a long-abandoned brownfield site into a vibrant, green residential community. The apartments will feature energy-saving technologies, such as photovoltaic panels, underfloor heating with summer cooling via heat pumps, and a controlled ventilation system with heat recovery.

“We’re committed to creating sustainable and healthy housing at the highest energy efficiency level,” said Pavel Huml, a representative for developer Pierre Grafen. “The use of low-energy designs and eco-friendly materials is central to this development.”

A large community garden and commercial spaces on the ground floor will further enhance the area, providing residents with local amenities and green spaces to enjoy. The architectural design by Ortogonal emphasizes a harmonious connection to nature, with large-format windows allowing natural light to fill the interiors.

The development offers a range of apartment sizes, from 1+kk to 4+kk, with units ranging from 35 to 119 square meters. Many of the apartments come with spacious balconies, terraces, or private gardens. High-end features include noise-insulating security doors, window blinds, and provisions for electric vehicle charging. The complex is also designed to be wheelchair accessible, ensuring that it meets modern accessibility standards.

“Kladno is emerging as a top location for residential housing due to its strategic position and ongoing investments in infrastructure,” said Jiří Kučera, Director of Luxent – Exclusive Properties. “As Prague becomes less affordable for the middle class, cities like Kladno are increasingly attractive for those seeking high-quality housing at more accessible prices.”

The project’s price point starts at CZK 85,000 per square meter, significantly lower than the average CZK 145,000 per square meter for new developments in Prague, according to Deloitte’s Real Index for Q2 2024. This competitive pricing has generated strong interest, particularly among buyers from Prague looking for more affordable homes and local residents seeking modern upgrades.

The Nová Cihelna Kladno project is designed to meet energy class A standards, prioritizing sustainability. Each unit will include air-to-water heat pumps for heating and cooling, as well as smart ventilation systems that optimize energy use. The development will also feature rooftop photovoltaic panels to support low-energy operation, and water-saving technologies like Eco Smart taps, which reduce water consumption by up to 60%.

“With environmental responsibility becoming a key consideration for buyers, Nová Cihelna stands out as a forward-thinking development,” explained Jakub Vyčítal, project manager at Ikonix, the firm handling project management. “Our approach ensures that residents can enjoy a comfortable lifestyle while minimizing their environmental footprint.”

Kladno’s evolving infrastructure and easy access to Prague make it an ideal location for modern living. The development is located close to public transportation, with a bus stop nearby providing a direct route to Zličín. In addition, a planned modernization of the railway line will soon offer direct train connections to Prague city center and Václav Havel Airport.

Residents will also benefit from nearby civic amenities, including shops, medical facilities, schools, and kindergartens. The surrounding area offers numerous outdoor recreational activities, such as hiking and cycling in the Džbán Nature Park, sports facilities like Aquapark Kladno, and cultural landmarks like Libušín Castle.

As Kladno continues to develop, projects like Nová Cihelna Kladno are poised to play a key role in shaping the future of the city. With its focus on sustainable, high-quality housing, the project is expected to attract a diverse group of buyers, from families to young professionals, all seeking a quieter, greener lifestyle just outside of Prague.

Once an industrial hub, Kladno is now becoming a thriving city with modern infrastructure and a growing population. Significant investments in healthcare, education, and recreational areas have made it an attractive place to live, work, and raise a family. The Nová Cihelna Kladno project symbolizes this transformation, breathing new life into a historic site while providing future residents with the comforts of modern living.

With pre-sales already attracting considerable interest, the project is expected to sell quickly, offering buyers an opportunity to invest in a sustainable future without sacrificing convenience or quality of life.

Polish capital targets commercial real estate market with growing momentum

The Polish commercial real estate market has seen a significant shift in its investment landscape, with domestic capital making a strong comeback. According to Bartłomiej Zagrodnik, Managing Partner and CEO of Walter Herz, the share of Polish capital in commercial real estate investments has doubled in the past year, reflecting the changing dynamics of the Central European property market.

With international institutional investors largely stepping back from the Central European real estate market, local investors have stepped up to fill the gap. In particular, entities from across the CEE region, including the Czech Republic, Slovakia, Hungary, and Germany, have become key players in Poland’s commercial real estate sector. Additionally, capital from the United States continues to flow steadily into the market.

After years of limited activity, Polish investors are now playing an increasingly pivotal role. In the first half of 2024, domestic capital accounted for 12% of commercial real estate investments in Poland, up from just 6% a year prior. This growth marks a notable shift from previous years, when Polish capital contributed as little as 2% to the market.

Polish investors are exploring a range of investment avenues, from purchasing shares and bonds of real estate developers to acquiring land for joint ventures or independent projects. They are also investing in commercial units, residential properties, and select hotel assets. Many domestic investors are particularly focused on value-add assets—properties that can be revitalized or repurposed for greater profitability.

Retail investments, especially in standalone buildings and retail parks, have been a significant area of interest. A prime example is the expansion of the Aura Park network by Polish company Terg. Similarly, Polish investors have been active in acquiring older office buildings, with recent transactions including the acquisition of the Ludna 2 office building and the Curtis Plaza in Warsaw.

The hotel sector has also seen heightened interest from Polish investors. In the first half of 2024, all hotel acquisitions were financed by domestic capital, including purchases by the Satoria Group and TMS Inwestycje.

Polish capital is driven by both institutional investors and smaller family-owned businesses looking to diversify revenue streams through real estate. As the market continues to evolve, there is growing interest in establishing new legal structures, such as family foundations, to facilitate these investments.

However, experts caution that Polish investors still face challenges in fully capitalizing on opportunities in the commercial real estate sector. The absence of a legal framework enabling Real Estate Investment Trusts (REITs) in Poland has limited investment options. REITs, which operate in over 40 countries—including 14 EU member states—could unlock significant potential in Poland. Government departments are currently working on legislation to introduce REITs, which could allow Polish investors to engage more actively in the commercial property market. It is estimated that Polish capital potentially available for investment in the commercial sector amounts to PLN 20 billion, including PLN 11.5 billion from individual investors.

The overall investment climate in Poland and the broader CEE region has shown signs of improvement in 2024. After a slow first quarter, investment activity surged in the second quarter, with Poland recording €1.7 billion in real estate transactions in the first half of the year—almost double the amount seen during the same period in 2023.

Notably, the office and retail sectors saw major portfolio transactions, with acquisition volumes surpassing those of 2023. The European Central Bank’s decision to begin cutting interest rates in June 2024 has also raised hopes for more affordable financing, further boosting investor confidence.

As Polish capital continues to play a larger role in the real estate market, the country is poised to strengthen its position as a key player in the CEE region, offering promising opportunities for both domestic and international investors.

Transformation of Czech motorway network to boost regional development and industrial growth

The Czech Republic is preparing for a major transformation of its motorway network, a strategic move that will have far-reaching effects on the country’s industrial and logistics sectors. According to a report from Colliers, the second half of this decade will see a significant wave of motorway expansion, improving connections to key European transport corridors (TEN-T) and positioning the Czech Republic as a vital logistics hub in Central Europe.

This expansion is not just about improving national mobility; it is a critical step toward strengthening the country’s role in cross-border trade. New transport links to Germany, Poland, Austria, and Slovakia will enable more efficient goods transportation and fuel demand for new storage and distribution centers along these corridors. “The evolving transport network will attract tenant investors seeking prime locations with excellent access to other Central European markets,” said Josefina Kurfürstová, Senior Analyst at Colliers.

The motorway expansion is already underway, with more than 100 kilometers of new motorway sections expected to open by the end of 2024. This momentum is set to continue, with an average of 60 kilometers of new sections planned for each year over the next six years. While long-term projects may face potential delays due to permitting and construction challenges, the ambitious target of adding over 450 kilometers of new motorways by 2030 marks a historic expansion of the country’s transport infrastructure.

As the motorway network grows, so will the demand for industrial real estate. The Czech Republic currently has over 12 million square meters of industrial space under construction, with a vacancy rate hovering around 3%. Key industrial hubs such as Prague, Brno, Pilsen, and Ostrava are expected to maintain strong demand, but the expansion will also open opportunities in emerging locations. “New hubs like Olomouc–Přerov and Jihlava are likely to see increased demand for industrial space and higher rental rates as they gain better motorway access,” Kurfürstová added.

Improved infrastructure will make secondary and developing hubs more attractive to both investors and tenants. Locations like České Budějovice, Vysoké Mýto, and Litomyšl could emerge as new logistics and industrial centers, benefiting from better connectivity to national and international transport networks. Developers are expected to capitalize on these new opportunities, particularly as rental prices in these areas remain competitive compared to primary hubs like Prague, where rents range from €7 to €7.50 per square meter.

Several key projects are already in the pipeline, including the completion of the northern link between Prague and Ostrava (D11+D35+D1), which will relieve congestion on the existing D1 motorway. Other major routes will connect the Czech Republic more efficiently with Austria via the D3 motorway and with Poland via the D11, enhancing cross-border trade routes.

By 2025, plans to complete up to 118 kilometers of new motorways will bring substantial benefits to regional border towns, including Chomutov (D7) and Karlovy Vary (D6), which are set to become more accessible.

With the Czech motorway network poised for a historic expansion, the country stands on the brink of a major boost in industrial and logistics activity. As new transport corridors open, the Czech Republic will consolidate its position as a strategic hub for industry and logistics in Central Europe. “Investors, developers, and tenants should closely monitor the development of the motorway network over the next decade to capitalize on the new opportunities it will bring,” Kurfürstová emphasized. The expansion is not only a matter of infrastructure but a catalyst for regional development and economic growth across the country.

WDP Eyes Sustainable Growth in Romania’s Expanding Warehousing and Logistics Market

In an interview with CIJ EUROPE, Gijs Klomp, Business Development Manager for Romania at WDP, shared insights into the company’s operations and future strategies in Romania, where WDP has established a significant presence since 2007. With a portfolio nearing 2 million sqm, Romania remains the company’s sole market in Central Europe, and according to Klomp, it presents ample room for further expansion.

“We know the country well, and our footprint here is large,” Klomp noted. “At the moment, Romania is big enough for us to continue growing.” He highlighted that WDP’s warehousing portfolio in Romania has a significant focus on production-oriented projects, with build-to-suit facilities being a key specialty, especially for the light industry and food retail sectors. The company has developed numerous complex solutions for food retailers, including temperature-controlled units.

While discussing Romania’s growing demand for warehousing, Klomp observed that although demand is rising, it’s not increasing at the same rate as in previous years. “The retail market is growing, volumes are up, and the industrial side is stable with slight growth,” he said. Klomp pointed out that vacancy rates are low, but the challenge lies in translating increased demand into higher rents to offset rising construction costs.

Klomp also addressed trends in the Romanian logistics market, noting that more companies are viewing Romania as a regional hub for Central and South-Eastern Europe. This shift is driven by Romania’s strategic location, market size, and improving infrastructure. “Several clients are servicing multiple jurisdictions from Romania,” Klomp explained. He also highlighted the impact of Bucharest’s new outer ring road, which is making previously hard-to-reach areas more accessible, opening up new opportunities for businesses to tap into cheaper labor pools.

Labor availability, according to Klomp, has become a top priority for WDP’s clients when choosing a location. He mentioned that the growing concern over labor shortages is pushing some companies to consider automation, with technologies like robot picking already being implemented in some warehouses.

Infrastructure remains a challenge in Romania, Klomp admitted. “Generally speaking, the infrastructure is still poor, although improvements are underway. But these changes take time and add uncertainty.” He also pointed to Romania’s non-Schengen status (for land borders) as a hurdle, particularly in terms of border efficiency and the unpredictability of waiting times. Klomp described anticipated full Schengen membership as a “big milestone” for Romania.

On Romania’s broader role in the European logistics network, Klomp described the country as a “new Poland,” with a growing regional importance and improving international reputation. Romania’s advantages, including its large market, major seaport, energy independence, and expanding highway network, make it increasingly attractive for businesses.

Klomp also praised Romania’s permitting process, which he found to be less time demanding than in other countries like the Netherlands or Czech Republic. However, he noted that fire safety regulations are more stringent due to past incidents, particularly in multi-tenant buildings.

Sustainability and technology are key focuses for WDP, with Klomp explaining that the company has an ESG policy and aims to be future-proof. Although Romania lags behind Western markets in sustainability, WDP is committed to implementing biodiversity initiatives and constructing environmentally friendly facilities.

Looking ahead, Klomp mentioned several upcoming projects, including a new facility for a major food retailer in Bucharest and a build-to-suit distribution center for a veterinary pharmaceuticals company in Baia Mare. WDP is also exploring the potential for multimodal terminals, with plans to develop land in Constanța, leveraging its railway connection and proximity to the seaport.

“Our strategy is sustainable growth,” Klomp emphasized, adding that WDP remains focused on build-to-suits and acquiring income-producing assets in prime locations. The company’s flexible approach allows them to adapt to market conditions while continuing to expand their presence in Romania’s evolving logistics landscape.

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