IIProp launches a new logistics project in Poland

The investment platform IIProp, owned by Madison International Realty and Griffin Capital Partners, has started construction of a new logistics facility in an attractive location on the south-western outskirts of Warsaw.

IIProp has completed the first stage of a built-to-suit investment carried out in the Spanish city of Murcia.
At the same time, the company has started construction of a new facility in an attractive location on the south-western outskirts of Warsaw.
The investments in Murcia and Warsaw are projects carried out by IIProp together with Panattoni.

The investment in Nadarzyn near Warsaw, with a target area of 93,500 sqm GLA, is being carried out in cooperation with Panattoni. The first stage, with an area of 50,000 sqm GLA, is under construction and is scheduled to be completed in February 2023. A pre-let agreement covers 51 percent of the space in the first phase of the project. The first tenant is an international logistics operator serving a global leader in the furniture and home furnishings industry.

The property in Nadarzyn is located in an excellent location – access to Chopin Airport in Warsaw takes just 15 minutes, and the project is located in the immediate vicinity of the S8 expressway. The investment is expected to obtain a BREEAM certificate at the „Excellent” level. The project plans to use many modern ecological solutions, such as intelligent energy management systems, twilight sensors for outdoor lighting installations, a mechanical ventilation system with high-class filters, which aims to reduce the concentration and recirculation of pollutants inside the building, as well as electric vehicle charging stations.

- During the pandemic, the logistics market in Europe developed at an unprecedented pace. Despite recent geopolitical turmoil, tenant demand remains at a high level. (...) We continue to develop our portfolio by making selective acquisitions in the most important logistics markets in Europe and by converting our attractive land bank into ready-made facilities – said Nebil Senman, managing partner at Griffin Capital Partners.

IIProp also announced the completion of the first stage of a built-to-suit investment carried out in the Spanish city of Murcia.

The investments in Murcia and Warsaw are further successes in our cooperation with Panattoni. We are actively analyzing new European markets for further expansion; in recent months, we have started work on potential projects in countries such as France, Italy and Austria. At the same time, the IIProp investment portfolio continues to grow and currently includes approx. 430,000 sqm GLA, despite the recent sale of assets on the German market – comments Maciej Dyjas, managing partner at Griffin Capital Partners.