Accolade invests nearly 30 million euros in Panattoni Park in Częstochowa

Michał Białas, Head of Poland w Accolade

Accolade - an international investor in the commercial real estate market - will invest in another industrial park, which will be opened in February next year, this time in Częstochowa. The construction of two modern, ecological class A warehouse buildings with a total area of ​​30,400 sqm is already underway. The project value is nearly 30 million euro and this is another brownfield investment of the Czech investor in Poland, Accolade now has a total 48,5% of brownfield contructions in their portfolio. Choosing Częstochowa is the implementation of a strategy that distinguishes investments in well-thought-out locations in regional cities with the highest potential. The first tenants in Częstochowa are expected to appear in February 2020.

Accolade has 9 industrial parks in Poland with a total area of ​​588,000 sqm and with value reaching 400 million euro in locations such as Szczecin, Zielona Góra, Lublin, Kielce, Bydgoszcz, Białystok, Konin, Legnica and in Mińsk Mazowiecki. Now an investor from the Czech Republic has decided to invest in Częstochowa. The Panattoni Park Częstochowa will be located near the Częstochowa Industrial and Technological Park and the trunk road number 1. It is also about 1 hour drive from the A1 and A4 motorway junction and 1.5 hours from the A1 and A2 junction.

"The warehouse space market in regional centers is constantly growing. We continue to implement the strategy, which assumes the presence in dynamic centers with untapped potential, such as Częstochowa. Accolade results show that each of the locations in which we have invested has been well thought-out and has contributed to the development of those particular regions. It is similar in this case. I am convinced that Panattoni Park Częstochowa will be a great success" - says Michał Białas, Head of Poland at Accolade.

A long-term investor like Accolade sees great potential in Częstochowa. The Panattoni Park Częstochowa will enhance the area of the old brownflied that stands next to the functioning coke plant.

In Częstochowa, there is also a possbility to see real support for entrepreneurs in the form of possible property tax  exemptions  and large infrastructure investments, also carried out by the local government. For 2019, at least, reconstruction and repairs on the DK 1 and DK 46 routes have been planned, which, thanks to multi-level intersections, will ensure smooth traffic in the city. A new section of the A1 motorway should also be commissioned this year. What is important for employers, Częstochowa is also well assessed from the perspective of the local labor market.

"Several key factors determine the success of industrial and warehouse parks in regional cities. The most important criteria include: the potential of the labor market, transport accessibility and the possibility of obtaining competitive financial conditions. The cost of land is also significant, as it is usually lower in such locations than in large agglomerations. In addition, the tenants of modern warehouses are more and more often local companies, which are developing dynamically and increasing the quality of the leased space, what significantly facilitates them to reduce employee turnover, but also to attract new ones” - comments Tom Listowski from CRESA.

According to specialists from the consulting company CRESA, the warehouse market is currently developing very dynamically. There are both new locations and types of buildings better suited to the activities of tenants and ensuring greater efficiency. The main locations attract the largest number of tenants in Poland and employ the most people, but over time, companies renting space there may decide to move from older buildings to ecological buildings that are being constructed nearby more technologically advanced facilities what would allow them to retain employees.

The modernized infrastructure provides better access from the country's largest conurbations to regional cities, which create new opportunities for both tenants and entities investing in industrial and logistics real estate. New technologies, automation and robotization are revolutionizing internal processes and provide great support in locations with limited access to employees. However, the further development of the industrial and logistics real estate market in Poland is largely dependent on the creation of new locations and thus the availability of staff.

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