European Logistics Investment (ELI), a dynamically growing logistics platform in Poland, has delivered three new development projects. Despite the economic turmoil caused by the COVID-19 pandemic, ELI kept its development pace and continued dynamic portfolio growth. The three latest completed developments in Bielsko-Biała, Ruda Śląska and Toruń will add 145,000 sqm of modern multi-purpose logistics space to the CEE market. The parks are 100% leased.
Having seen a strong expansion in the last months driven by the latest trends in warehousing, I can confirm that our strategy has proven itself in these unusual times and ELI’s portfolio is well-poised for growth in 2021. Despite the turbulence on the market caused by the COVID-19 pandemic, at the end of 2020, ELI reached the level of over 600,000 sqm of leased space in 19 projects, which is a doubling of the numbers that we started with in mid-2018. Our goal for 2021 is to further develop and increase the value of the portfolio beyond EUR 1 billion, says Hubert Rossa, Senior Vice President Investments at Griffin Real Estate responsible for ELI platform development.
We are also proud that our properties remain almost fully leased. The tenants value excellent locations and high quality of our warehouses that are developed in line with global sustainable strategies and hold BREEAM certificates. New developments are equipped with ecological solutions, such as LED lighting, increased insulation of walls and roofs or intelligent building management systems as standard. In 2021, we are not going to slow down – ELI has nearly 120,000 sqm currently under construction and in the near future we plan to acquire new projects allowing for the development of over 200,000 sqm GLA in addition. Our goal is to reach one million sqm of leasable space. We look forward to observe ELI’s significant development with seizing new opportunities in growing to become the market leading logistics platform in Poland, adds Łukasz Toczek, Senior Vice President Investments at Griffin Real Estate responsible for ELI platform development.
The three newest assets that will serve as regional distribution centers, last mile delivery logistics as well as light manufacturing plants were delivered in Bielsko-Biała, Ruda Śląska and Toruń – logistics locations with growing popularity among investors. The parks developed together with ELI’s partner Panattoni – a market leading European logistic developer, comprise 5 buildings with total GLA of 145,000 sqm and have already reached 100% occupancy rate.
Bielsko-Biała – a great location and expanding businesses
Park Bielsko-Biała is located in the automotive and transport hub of the Bielsko Industrial Region, which gains more and more attractive investment image, ranking second in the region regarding the highest rate of registered companies per 1000 inhabitants, thanks to both the location and opportunities for investors. The logistics park is located in Szklana Street in the north-western part of the city and offers great connectivity, being positioned adjacent to the junction with the S1 expressway towards Silesia, Czechia and Slovakia. The development comprises two buildings with total GLA exceeding 71,000 sqm which have already been leased in 100%. Among the main tenants are light manufacturing companies from automotive sector: NVH, Marelli and Proseat, and a producer of home appliances made from plastic – Prosperplast. Buildings are currently in BREEAM certification process, and will meet the requirements of BREEAM certificate with a Good rating.
Ruda Śląska – the heart of Upper Silesia with growing importance in the CEE region
The centre of the most industrialized and the most urbanized region in Poland is the location of the ELI’s second new addition to the portfolio. Park Ruda Śląska III with two completed phases has a total leasable area of 57,000 sqm. The properties have already been leased in 100% to three tenants –Dywidag – a producer of geotechnical and compression systems, Jeronimo Martins Group – the biggest food retailer in Poland and Latex Opony – one of the leaders in the tyre distribution industry. Buildings are currently in BREEAM certification process, and will meet the requirements of BREEAM certificate with a Very Good rating.
Toruń – growing importance as a logistics hub in the region
The third of the newest additions, with 100% occupancy rate is Toruń Park, Phase B. The property offers to its three tenants a total GLA of 17,000 sqm modern logistics space and great location, providing good connection with A1 (N-S, 4 km) and S5 (Toruń-Poznań) motorways. Additionally, there is a planned S10 motorway, which will connect Toruń not only with Szczecin, Bydgoszcz and Warsaw but at the same time with the northern Germany as an alternative to the A2 motorway. ELI’s tenants in Toruń include InPost, a provider of postal and modern logistics services, United Beverages, one of the largest alcohol distributors in Poland as well as importers of wines and spirits, and Stork – Polish 3PL operator. Toruń development undergoes BREEAM certification process, and will meet the requirements of BREEAM certificate with a Good rating.
The portfolio of European Logistics Investment comprises 19 logistics parks with a total lease area of over six hundred thousand sqm located in the most important logistics regions in Poland, including Warsaw, Upper Silesia, Łódź, Wrocław and Kraków. The company plans further growth of the portfolio over the next years, to become the leading Polish logistics platform. ELI's strategic partner is Panattoni Europe, the European leader in industrial real estate.