POLAND LaSalle buys two Warsaw parks for EUR 30 mln

Urban parks are hugely popular, because their location within the city limits greatly facilitates the 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.
Robert Dobrzycki, the CEO of Panattoni

The two parks in question are City Logistics Warsaw Airport I (10,715 sqm) and City Logistics Warsaw II (14,000 sqm), which are located next to the Opacz junction of the S2 and S8 roads.

Logistics has long been a target sector for the LaSalle E-REGI and recent events have only served to strengthen our view of this asset class. Given the rapid expansion of e-commerce – as well as Poland’s improving 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.
Uwe Rempis, the managing director and fund manager of LaSalle E-REGI