Investment management company EIKA Asset Management (EAM) together with Europe’s largest logistics real estate developer Panattoni has completed the construction of a logistics building near Warsaw. The construction was completed ahead of schedule and without any construction cost increases..
Ahead of schedule and on budget, EIKA Asset Management completed a 28,000 sq m logistics building in Sochaczew, located approximately 50 kilometers west of Warsaw. 50 percent of the logistics center managed by EAM is already leased to Pilkington Automotive Poland, a UK-based company whose activities include glass production, processing, automotive glass, solar module glass, etc.
“The project, implemented ahead of schedule and within the budget, is yet another proof to our partners and investors that we invest safely and create added value for our fund participants. Our successful cooperation with such an experienced partner as Panattoni also contributed to the success of this project. I can confidently say that both parties demonstrated their best competencies: Panattoni – logistics development, EAM – investments and capital management,” emphasizes Andrius Uždavinys, Head of EAM.
According to A. Uždavinis, EAM will continue to expand its investment portfolio in Poland. The Polish market is currently extremely attractive to investors. It is estimated that the Polish logistics market is the fifth largest in Europe. Experts note that it is currently experiencing a golden age – all indicators show the stability and resilience of the Polish logistics market, demand is stabilizing, and the so-called “Big Box” type industrial buildings remain popular among institutional investors.
EAM is also implementing other projects in Poland. It is developing the first phase of a logistics warehouse complex near Modlin Airport, which is about 40 km from the center of Warsaw. In total, 117 thousand sq. m of leasable area is planned to be built on 23 hectares of land, with an investment of over 70 million euros. The plans include further active development in Poland.