LaSalle acquires two city logistics parks in Warsaw

by   CIJ News iDesk II
2020-07-30   09:43
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In a deal worth €30m, LaSalle Investment Management has acquired two city logistics parks in Warsaw from Panattoni and Marvipol. City Logistics Warsaw Airport I and City Logistics Warsaw II offer 10,715 sqm and 14,000 sqm of space respectively. The facilities are fully leased. “Logistics has long been a target sector for the LaSalle E-REGI and recent events have only served to strengthen our view of the asset class. Given the rapid expansion of e-commerce as well as Poland’s developing national road infrastructure, access to low-cost labor and relatively low rents compared to Western Europe, we expect that the portfolio will experience favorable demand fundamentals over the coming years, providing long-term secured income for the fund,” said Uwe Rempis, managing director and fund manager at LaSalle.