Investors' caution, Developers' reluctance

The Polish warehouse market does not have much to offer to investors. There are only a few good developments, which developers in any case prefer to re-finance themselves. The above statement will be confirmed by developers, investors and investment advisors and it tells us why there have been so few transactions, with only three having been officially announced in Poland. In 1997, the Real Estate Investment Trust bought the 36,000-sqm. Warsaw Industrial Centre complex from Menard Doswell &Co, and this was the first transaction of its kind in the country.  The warehouse is now called ProLogis Park Warszawa. In 2000, the American investment fund, Heitman Central Europe Property Partnership, purchased Diamond Business Park Janki (32,000 sqm.) for USD 27.7 million, from developer AIG/Lincoln Polska who still manage the complex. At the beginning of this year, the Austrian Europolis fund bought Alliance Logistic Centre's two buildings, (totalling 28,000 sqm of space),