It’s a man’s world
A hopeful look into the future – through an empty warehouse
A warehouse: seemingly a tin shed with a row of doors, that’s all there is to it. However, the market has been enjoying quite a lot of interest since Eurobuild Conferences held its ninth conference on the sector. And despite the crisis, there were many interested parties present. Not a single woman appeared on the stage all day – although this wasn’t their fault, as men keep a firm grip on the sector. Just before the start, Prof. Hans-Christian Pfohl of Darmstadt University of Technology was preparing for his talk. In line with German precision, his presentation started at 9 o’clock sharp. From that point onwards, you really needed to focus to absorb such a large dose of knowledge. The professor devoted his presentation to supply chain funding and risk management. “If you only need 52 pct certainty, then make sure you multiply your costs by three,” he emphasized at the end.
The moderator of the first panel was Tomasz Trzósło, head of capital markets and investment for Central and Eastern Europe at Jones Lang LaSalle. His interlocutors were: Mirosław Koszany, president of Biuro Inwestycji Kapitałowych; Robert Sztemberg, deputy head of real estate sales at HSH Nordbank and Marek Masny, director of Westdeutsche ImmobilienBank. What were they talking about? Money, of course. However, not about spending it but finding it and who stands a chance to obtain it. “One thing is clear: bank funding of logistics developments will not be easy, so it is worth looking for other sources of capital,” was how Tomasz Trzósło summarized the discussion.
After the panel it was time for a kind of commercial break. Mariusz Wiśniewski, marketing director of the Gdańsk Economic Development Agency (InvestGDA), gave a presentation on the Pomorskie Logistics Centre project. The company is looking for an investor with whom to develop a modern logistic complex on a 180-ha plot of land in the vicinity of deepwater container terminal DCT Gdańsk. A few investors listened to the proposal with deep interest and were not even tempted away by the smell of croissants wafting in from the other room. The conversation then moved to the dining tables, where representatives of the conference sponsors – FedEx, Segro, Panattoni Europe, ProLogis, Ozone and RD bud – lobbied behind the scenes.
Only one subject dominated the coffee break: how to survive the hard times. The main man on the operation optimization panel was John Palmer, director of real estate advisory services at Brittain Hadley Europe. And who was alongside? Tomasz Kasperowicz, director of the industrial and logistics department of Colliers International; Marcin Turski, leasing manager at Pinnacle Poland and Owen Bramley, managing director for Poland and Czech Republic at Bartlet Asset Management. The debate was businesslike, but the answers were full of hesitation and anticipation. Tomasz Kasperowicz wondered what the chance was for the announced ‘build-to-suit’ projects to be developed. Owen Bramley considered the drop in construction prices a boon for the industry, and John Palmer argued that small warehouses in good locations are an opportunity for the sector.
The participants of the next panel focused on tenants’ problems and, resulting from them, developers’ problems in leasing their space. This time they listened to the wise words of: Tomasz Olszewski, partner and head of the industrial department at Cushman & Wakefield; Andrzej Goliasz, supply chain director for Central & South East Europe at Antalis SAS; Waldemar Olejnik, development manager at Segro and Tomasz Oczkowski, country director at Gazeley Poland. So far, Poland as a developing market has had investors that were flexible only in one direction – the extension of logistic and warehousing centres, the gentlemen concluded. What is needed now is flexibility in the opposite direction. It is the management of the finished space that will be the challenge.
And before we knew it, it was time for dinner. Stronger for having eaten, and relaxed after a glass of Portuguese wine, ‘the trade’ returned to the main room to listen to the participants of the CEE panel. The speakers were: Jason Sharman, managing director at King Sturge Polska; Robert Dobrzycki, regional partner at Panattoni Europe Central European headquarters; Michał Czarnecki, vice president of leasing and development at ProLogis Poland and Otis Spencer, senior vice president and director of portfolio management at Heitman International. After a short introductory presentation on the status of the warehousing industry in the main countries of our region, the gentlemen discussed the details and specificity of these markets. They eagerly admitted that they wanted to continue investing. Where? Here, the answers were more general although a careful listener could guess the locations and the sizes of warehouses worth developing. Discretion was understandable; after all, they were speaking in front of their competitors.
The last panel was reserved for those of a persistent and optimistic nature. It concerned the future, the better future everyone is waiting for. Giles Scott, head of development management Europe at EC Harris; Robert Karczewski, vice president and business development director at Hill International; Wojciech Cipiur, contract logistics manager at Dachser; Paweł Sapek, regional manager at Segro and Tom Listowski, head of the industrial department at CB Richard Ellis, discussed when they expected the better future to happen. The main conclusion of the debate? Things should get better soon. When? Perhaps in 2010 or it might only start to happen in 2011. What should be done until then? The optimization and preparation of companies for…a successful future!
Thanks to the words of reassurance in the last panel, the conversations during the afternoon cocktail mixer were not limited to the crisis. After all, how long can you talk on this subject? It is better to focus on the future successes. This will be the subject of the next warehouse conference organized by Eurobuild Conferences. ν (EG)
