Eika Asset Management, the investment management company of the Eika Group, has signed an agreement with Poland’s Waimea Holding development company for the construction of logistics warehouses near Warsaw.
According to EAM, the project will be developed in three phases, with the first to cover 7.54 hectares of land, with 38,000 square meters of leasable area. The investment in the first phase will amount to more than EUR 25 million. Ultimately, in all three phases, the project is expected to cover more than 23 hectares of land, around 117 thousand square meters of leasable area, and represent an investment of more than EUR 70 million.
The warehouses to be built will be used for logistics or light manufacturing. According to EAM, they will meet the high-quality standards of the international BREEAM certification system and other requirements for modern logistics including a net storage height of 12m.
“The success of this project is based on its convenient location in Warsaw, close to Modlin Airport and other major transport arteries,” explained Paulius Stulgaitis, Head of EAM Investments. “In addition, we will be able to offer tenants a very competitive rental price for a sustainable building that meets modern standards.”
According to EAM, “the North Warsaw Nowy Modlin project will benefit from quick access to Warsaw and North-Eastern Poland through currently developed road infrastructure (S7 road Gdansk – Warsaw) and proximity of Modlin Airport. We strongly believe that North Warsaw will be an increasingly important Warsaw submarket with good prospects for growth in coming years.”
Eika Asset Management is the investment management company of Lithuania’s Eika Group.