Prologis expects to start some new development projects in the near-term, after offloading some of its non-core assets across Poland in order to focus on the local key markets. Following the closure of a €19.9m deal with Hines last year, and the most recent deal with Pepco on warehouses in Rawa, the developer plans to sell of 500,000 sqm of development land near Warsaw, Poznań, Łódź, Opole and in the Silesia region.
“The land sites have all permits in place, and are located near main Poland’s roads, or in locations for which roads are already planned,” said Bartosz Mierzwiak, vice-president at Prologis Poland. “We’re no longer interested in smaller projects, of 50,000 sqm or less, where the concentration of clients is not sufficient.”
The company is currently targeting the main logistic hubs around the country, and plans to start some new development projects in the near-term.
“We want to build a lot more, than our report predicts,” said Merzwiak adding that some part of the new projects will be on-spec. “While consumption in Poland is falling, it’s rising globally, and these goods need to be stored somewhere,” said Ben Bannatyne.
Like most logistic developers these days, Prologis is looking to grow its market share in the e-commerce and FMCG market over the coming year. These sectors are expected to generate the biggest number of new leases, whereas classic logistics operators are seen more as seeking renewals and extensions.
