Join Craig Smith and Winston Norman on the Coffee with Craig Show for your daily dose of CRE news in the CEE region, brought to you by EuropaProperty.com.
Segro Acquires Tritax EuroBox for £552 Million
Segro, a major industrial property firm, is set to acquire competitor Tritax EuroBox in a £552 million deal. Tritax shareholders will receive 68.4p per share, a 27% premium over its May 31 stock price. Segro’s CEO, David Sleath, emphasized the strategic benefits of adding valuable warehouses to its European portfolio. The acquisition enhances Segro’s assets across key markets while providing Tritax shareholders with improved returns.
Panattoni Expands with New Kraków Project
Panattoni has purchased 9.6 hectares in Kraków to build Panattoni Park Kraków East V. Construction starts in October, with Highway Automotive as the first tenant, leasing 8,000 sqm of the 30,000 sqm facility. The park will serve global markets by May 2025. Highway Automotive, a truck and bus parts distributor, praised the new facility’s location and design, which aligns with their growing logistics needs. The project aims to achieve an Excellent rating under BREEAM environmental standards.
“Our company is growing rapidly, becoming bigger every year. To fulfil our plans, we need a centre that is ideally suited to the needs of our expected growth, but also optimised to meet the needs of our logistics operations and the work of our warehouse and office team,” comments Paweł Łysień, the COO of Highway Automotive.
BIG Opens Fifth Retail Park in Poland
BIG has opened its fifth retail park in Ostroda, Poland. The site covers over 14,000 sqm of retail space and has around 30 tenants. It also includes a 9,000 sqm DIY hypermarket, drive-thru restaurant, gas station, car wash, and 700 parking spaces. This follows the opening of BIG’s fourth retail park just a week earlier. BIG Ostroda is part of a larger strategy to expand in Poland, with more open-air shopping centres planned in the future.
