ProLogis Expands Presence in Poland
- Jan 28, 2008
Industrial giant ProLogis has inked deals recently to develop and lease more than 1.1 million square feet of industrial space in Poland. All of the transactions were in the fourth quarter of last year, and spread out in various parts of the country.”There’s a lot of demand for modern warehouse and distribution space in Poland,” Michael de Jong-Douglas, managing director for ProLogis in Central and Eastern Europe, told CPN this morning. “Not only among logistics companies, but also among retailers and manufacturers worldwide, all of whom have an increasing interest in Poland.”According to CB Richard Ellis Inc., about 9.5 million square feet of distribution/warehouse space was leased in Poland in the first three quarters of 2007, with 3.8 million square feet of that total in the third quarter alone. All together, Poland currently has about 34.4 million square feet of modern warehouse/industrial space. As of the third quarter, another 9.5 million square feet of new space was under construction.Supporting the demand for industrial properties, de Jong-Douglas added, is economic growth within Poland. The country’s GDP has been consistently one of the fastest growing in Europe, averaging about 6 percent growth in recent years. The country also has an improving transportation infrastructure, and is well located within Europe, especially near the manufacturing might of Germany. Poland’s own manufacturing base is also expanding rapidly as well.The new ProLogis developments/leases include a 185,000-square-foot build-to-suit at ProLogis Park Piotrkow II in central Poland with Vobis, a specialized provider of digital equipment in the country; a 157,000-square-foot lease at ProLogis Park Dabrowa in southwest Poland to Fiege, a European provider of third-party logistics services; a 74,000-square-foot lease at ProLogis Park Poznan II in western Poland tologistics giant DHL, a subsidiary of the Deutsche Post World Net group; and 52,000 square feet of newly completed space leased at ProLogis Park Wroclaw in southern Poland to Rhenus Fastrack, a European provider of third-party logistics services.Including the new activity, ProLogis’ platform in Poland now totals more than 18.5 million square feet of industrial space owned, managed or under development.