Warsaw North Logistic Park marks the first stage of the North Warsaw Nowy Modlin warehousing and logistics centre being developed near Warsaw by EIKA Asset Management (EAM). Waimea is the project developer and is responsible for commercialisation. The facility, covering over 28,000 sqm, has already received its occupancy permit. The general contractor, Kajima Poland, completed the construction of the first warehouse. The total investment value exceeds €70 million.
The investment will cover an area of over 23 hectares, and once all three phases of North Warsaw Nowy Modlin are completed, it will offer approximately 117,000 sqm of rental space, with over 38,000 sqm dedicated to Warsaw North Logistic Park. The site is located north of Warsaw, near Warsaw-Modlin Airport and the S7 expressway junction, ensuring quick access to Gdańsk, Warsaw, and the northeast regions of Poland.
The investor for North Warsaw Nowy Modlin is EIKA Real Estate Fund (EREF), a fund focused on traditional commercial real estate in Central and Eastern Europe and the Baltic states. The portfolio includes logistics, production, office, and retail properties. The average annual net return of the fund exceeds 12 percent.
“The Polish logistics market covers over 36 million sqm and is the fifth largest in Europe, continuing to grow rapidly. Stable construction costs in Poland allow us to offer competitive rental prices for new logistics facilities while maintaining the expected investment return. This is our second warehouse development project near Warsaw. We believe this is a more fluid and attractive market segment, appealing not only to local Polish market participants but also to foreign investors,” says Paulius Stulgaitis, Fund Manager at EIKA Asset Management.
“We are pleased that the development of our investments abroad is supported by our cooperation with leading banks and large local companies. We are well known and visible in the Polish market, where we have completed projects worth tens of millions of euros. EAM will continue to expand its investment portfolio in Poland. The Polish market is currently very attractive for investors,” comments EAM CEO, Andrius Uždavinys.
Kajima Poland was responsible for the comprehensive tasks related to the first stage in the Design & Build framework, including both construction and execution designs. Hall A, with an area of over 28,000 sqm and a height of 12 meters, is designed for high storage. Additionally, over 21,000 sqm of external surfaces have been created, including manoeuvring areas, internal roads, and parking lots.
“Due to the proximity of the airport, the completion of the project required obtaining special permits from the airport authority for selected works and the use of specialised construction equipment. We completed the first phase of construction on schedule, and the second phase, completing the first stage of the investment, will begin soon. Kajima Poland will carry out this work as the general contractor,” says Maciej Runkiewicz, CEO, Kajima Poland.
Waimea is the project developer and is responsible for commercialisation, with the current project being the first phase of a logistics park targeting a total area of 117,000 square meters.
“Thanks to the commitment of the team and the trust of our partners, we have successfully created a new warehouse location on the map of Warsaw that is appreciated by tenants. Proximity to the Warsaw agglomeration, quick access to the S7 expressway, and the planned railway connection to Warsaw-Modlin Airport are and will be future factors supporting the attractiveness of this project for current and future tenants,” says Tomasz Ciesielski, Managing Director at Waimea.
The strategic location is appreciated by tenants – the first one to move in occupies over 55 percent of the space. This tenant is one of the largest European DIY retail chains, belonging to an international group. A lease agreement has also been signed with Deka Trans, a provider of 3PL logistics services with long-standing, reputable clients.
“The implementation of the investment under the Design & Build formula allows for close quality control and optimisation of technical parameters already at the design stage. In North Warsaw Logistic Park, the priority was to deliver high-standard infrastructure that meets the operational requirements of industry leaders. Effective commercialisation of the facility in the first phase confirms that the market is seeking modern logistics spaces that combine strategic location with strict environmental certification requirements,” says Sandra Wróblewska, Senior Manager – Business Development, Kajima Poland.
In addition to standard ESG solutions, the project meets additional sustainability requirements, meaning that car and electric truck charging stations will be established soon. “It is important for us to offer the Polish market a product that meets the high standards of the international BREEAM certification system at the Excellent level and the requirements of modern logistics. The success of this project depends on its very convenient location in Warsaw, close to the Modlin Airport and other major transport routes,” adds Paulius Stulgaitis, Fund Manager, EIKA Asset Management.
