Hines Global Income Trust acquires a modern logistics park near Gdańsk – EuropaProperty

Hines, the international real estate firm announced Hines Global Income Trust, Inc. (“Hines Global”) has acquired a modern logistics park with an area of over 30,000 sqm near Gdańsk. The property, purchased on 24th September 2019 from the investment platform The SEGRO European Logistics Partnership (“SELP”), will be managed by Hines Polska.

The logistics centre consists of two high-class warehouse buildings with a total area of 32,237 sqm. The buildings were constructed in 2013 and 2015, and are fully leased to two tenants which utilize the location to service the Tri-City area. Żabka Polska, the largest chain of small convenience stores in Poland, occupies 25,500 sqm of building space. The remaining area of 5,100 sqm is leased to DB Schenker, a German global leading logistics provider specialising in comprehensive supply chain management offering not only warehousing, but also freight forwarding and transport solutions.

The investment is located in Pruszcz Gdański, in the vicinity of the Rusocin junction, providing direct access to the Tri-City ring road and A1 Motorway. The property is only 11 km away from the Gdańsk city center.

Sherri Schugart, Chief Executive Officer of Hines Global Income Trust commented: “Hines Global Income Trust is excited about entering the Polish logistics market, gaining access to a strategic distribution node, and expanding our Pan-European warehouse portfolio.”

“The logistics centre in Pruszcz Gdański is distinguished by its excellent location and stable tenants. I am very glad this investment marks our presence in the Tri-City logistics market,” said Wojciech Rumian, Vice President of the Management Board of Hines Polska.

“The sale of the park in Gdańsk is one of the elements of our company’s strategy focusing on major warehouse markets in Poland. We are confident that Hines has made a prudent investment purchase” said Bożena Krawczyk, Investment Director for Central Europe at SEGRO.

During the transaction Hines was advised by the law firm Linklaters, the tax adviser Crido and the technical adviser DIL Polska Baumanagement Sp. z o.o.