LaSalle buys two Warsaw parks for €30m
Acting on behalf of the LaSalle E-REGI fund, LaSalle Investment Management has acquired a portfolio of two class A logistics parks in Warsaw, Poland. The sales price was $35.4 million.
The sellers of the last-mile properties, which total nearly 270,000 square feet, were Panattoni Europe and Marvipol Development. The portfolio consists of City Logistics Warsaw Airport and City Logistics Warsaw II, which are located next to the Opacz junction of the S2 and S8 roads.
“Logistics has long been a target sector for the LaSalle E-REGI and recent events have only served to strengthen our view of this asset class. Given the rapid expansion of e-commerce — as well as Poland’s improving 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, the managin