Tristar, the joint venture of Tristan EPISO 4 and White Star Real Estate, was set up in 2018 and is aimed at investments in Class A logistics properties. At the end of 2020, it can boast nearly 98 percent of extended agreements. Only in 2020, its efficient property management and excellent locations allowed to extend or sign new agreements for the total of 74,600 sqm.
2020 was certainly an unexampled year for the warehousing and logistics sector, and an exceptionally successful one for the logistics centres in the Tristar portfolio. In each of the facilities, almost all the space is leased, and the few units vacated are negotiated well in advance, which means a scarce percentage of the space available and a low tenant turnover.
“The Tristar brand stands out on the market owing to its excellent locations close to large agglomerations, which ensures good communication, the proximity of express roads, and access to well-developed labour markets. Owing to these advantages and the professional management of the project provided by our team, we want to constantly increase the value of our portfolio and remain an important benchmark for the market of state-of-the-art Class A warehousing spaces. Moreover, we persistently strive to introduce modern solutions, especially related to savings in maintenance fees, which is appreciated among our tenants who often decide to continue our cooperation,” said Dominik Buczkowski, Industrial Business Development Director at White Star Real Estate.
For the Tristar project, White Star Real Estate can boast agreements signed, mostly for lease renewal, for the total of nearly 75,000 sqm, with over 160,000 sqm of the total space currently managed by the brand. At the end of December, Spedimex extended their agreements at two logistics centres – in Gdańsk and Poznań, while in November Inter Cars decided to continue cooperation and remain in Gdańsk. Previously, similar decisions were made by such companies as Nagel Polska or LPP in Gdańsk, and Sigolables or Ruch in Wrocław.
“To us, the large percentage of renewed agreements proves that the locations we offer are well-thought-out and meet the needs of tenants. With our experience in managing warehousing projects, we are able to provide professional service to our tenants and offer them the quality which often becomes crucial when we have to sit down and talk about agreement extension. We strive to be close to our clients and each day concentrate on their needs, owing to which Tristar has become a well-established brand in a very competitive market. The example of the Gdańsk centre, managed as part of the project, shows that these are not only declarations but also definite realisations. Together with Inter Cars we managed to increase the efficiency of logistics operations through adaptations in the loading zone, and prepare the installation of advanced LED lighting, allowing to substantially optimise maintenance costs. What also confirms our long-term relationships with tenants are the agreements in which they not only extend our cooperation to successive periods, but they also decide to increase the space leased. Such was the case last year for the JAS company in Czeladź, and for Tristar Poznań, where the Milano company decided to extend our long-term cooperation. In both cases the companies decided to increase the space from approx. 10,000 sqm to approx. 15,000 sqm,” said Urszula Rasmussen, Head of Industrial Leasing at White Star Real Estate.
According to JLL’s report in the third quarter of 2020, the Polish warehousing market saw the gross demand of 3.4 million sqm, 75 percent of which were new agreements and expansions. This strong activity allowed Poland to remain second in terms of the space leased among the largest logistics markets in Europe.
“Quarter by quarter the warehousing space in Poland is growing, the largest in the area of the so-called ‘Big Five’, where the majority of the spaces from the Tristar portfolio is also located. We believe that the quality of the portfolio built based on the high quality of property management services and individual support for tenants will become increasingly important on the market. It is becoming more and more difficult for new projects to compete through their locations as for the largest companies on the market these are complementary and coexist in similar areas. That is why our strategy will concentrate – also in the future – on close cooperation with tenants, and simultaneously investment in innovative solutions which will influence the quality of the spaces, the comfort of tenants, and the savings in maintenance fees,” summarised Urszula Rasmussen.
