PL

POLAND Traht swims into Pallag 43

Warehouse & industrial
London-based asset manager M7 Real Estate has agreed a new lease with local autoclave steriliser manufacturer Traht Innovations for 6,500 sqm at the Pallag 43 warehouse in Budapest’s northern outskirts.

Traht Innovations will occupy 5,650 sqm of industrial warehouse space as well as 900 sqm of office space, bringing the overall occupancy of the property to 100 pct. The remaining 40 pct is leased to automotive parts supplier Autonet, which previously occupies to whole premises. M7 was advised by 108 Agency during the lease negotiations.

After acquiring Pallag 43 in H2 2021 for EUR 9.6 mln on behalf of its M7 CEREF II fund, M7 subdivided its 11,150 sqm of space to create a multi-lease warehouse.

When AutoNet decided to downsize its operations at Pallag 43, we identified an opportunity to invest in the asset, leveraging our local asset management expertise to create a high quality multi-let property, which would work better for potential occupiers. As a result, we have been able to fully let the space at Pallag 43 within a relatively short timeframe, reflecting the robust demand we are seeing from occupiers for well-located industrial assets in urban areas, such as Budapest, where supply remains constrained.
Balázs Magyar, the managing director for Hungary at M7 Real Estate

The property is situated in Dunakeszi, near the M0 and M2 motorways.

M7 CEREF II, which was launched in 2020, closed with a portfolio of nine assets acquired for EUR 91 mln located across Poland (40 pct by valuation), Hungary (40 pct) and Croatia (20 pct), with an even split between logistics and office space.

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Edition 6 (289) June 2024

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