Savills Investment Management (Savills IM) has completed the acquisition of a logistics unit leased to Leroy Merlin in Piątek from Invesco Real Estate, on behalf of Korean institutional investors managed by Vestas Investment Management.
The total purchase price for the asset is approximately €71 million ($78 million).
The asset is located 40 kilometers (25 miles) north of Lodz, which constitutes Poland’s central logistics location and is within two kilometers (1.2 miles) of the A1 motorway. Leroy Merlin has consolidated its Polish logistics operations into the unit and has committed to occupy the building for 10 years. Developer Panattoni reported in October 2019 that this unit was the largest single-story build-to-suit logistics facility developed in Poland to date.
Savills IM has completed the acquisition of the 123,000-square-meter (1.3 million-square-foot) logistics unit, following the handover of the second phase of the asset to the tenant. The acqu
