Hines announced the extension of the lease agreement at Distribution Park Portfolio Toruń (“DP Portfolio Toruń”), a logistics park located in Grębocin near Toruń. A manufacturer of breakfast cereals and cereal bars and one of the largest food exporters in Poland, Cereal Partners Poland Toruń – Pacific (“Cereal Partners Poland”), has extended their lease agreement until 2027. The company is part of Cereal Partners Worldwide group, created by global leaders in the food industry, Nestlé and General Mills.
“The location of the facility close to our factories and the good relation between the quality of warehouse space and the offered price have been decisive for the extension of the agreement. This decision is the result of our strategy for the coming years. Nestlé breakfast cereals and cereal bars made in Cereal Partners Poland in Toruń and Lubicz are mainly exported. The high-bay warehouse in Grębocin is a good place not only to maintain an adequate stock of finished products, but also to replenish shipments for our contractors. What also matters is our positive experience gained so far with the warehouse space supplier,” commented Tomasz Rutkowski, representative of Cereal Partners Poland Toruń – Pacific.
DP Portfolio Toruń is a build-to-suit investment developed for a specific tenant. Hence, the brand Cereal Partners Poland has been present in the facility since 2010, i.e. since the beginning of its operation, occupying all available space of 30,308 sqm.
“We are very pleased with the trust placed in us by Cereal Partners Poland. Positive and fruitful cooperation is always a source of pride for us, and it is no different this time. The tenant’s decision provides proof that the acquisition of five warehouse parks in 2016 was an excellent move,” said Katarzyna Żbikowska, Leasing Manager at Hines Polska.
DP Portfolio Toruń was acquired by Hines Poland Sustainable Income Fund (HPSIF) in 2016 together with logistics parks in Mysłowice (27,981 sqm), Legnica (26,030 sqm), Garwolin (25,940 sqm) and Grodzisk Mazowiecki (16,030 sqm). Each facility is located in the vicinity of key transport nodes, allowing for convenient transport, both domestic and international. In addition to the investments mentioned above, HPSIF’s portfolio also includes the logistics centre Distribution Park Żerań and three office buildings in the Warsaw district of Mokotów: Ambassador Office Building, Nestlé House and Sky Office Center.