ProLogis and PointPark Properties: from the labyrinth of the crisis each of them through its own brand
Claiming that the segment of industrial and logistics real estate is the most immune to the impact of recession made fluctuating statistics and on them based conclusions of consulting companies’ surveys often relative. Growth of non-occupancy rates and decline of newly launched projects has become the actual bogeyman maybe of all real estate developers, without exception. And yet, as shown by the example of companies ProLogis or PointPark Properties, the weight of those who believe in discoverability of an escape from the labyrinth of the crisis is not negligible.
ProLogis – one of the leading providers of distribution properties – in recent days signed a contract with the transport and forwarding company Euro Freight Logistics providing a broad range of logistics services including storage and distribution. The contract would entail hiring a further 5 400 m2 of storage space in ProLogis Park situated in the eastern part of the town of Sochaczew, directly near the E30 motorway (Warsaw – Berlin) and about 50 km west of the centre of the Polish capital.
Reputable companies on the list of clients
„For ProLogis the contract is the confirmation of
correctness of the long endeavour to excellent customer service,“ said
Wojciech Kosiór, the leasing manager of ProLogis in Poland. „We are very
pleased that the Euro Freight Logistics Company is in our distribution park
satisfied and that our cooperation has come to expansion.“
Flattering compliment did not stay unanswered: „We rent storage facilities in the park for more than two years,“ said Matteo De Simone, the director of the Euro Freight Logistics, which is a part of the Euro Freight Group. „The dynamic growth of our business and an excellent relationship with ProLogis led us to the decision to rent additional space in the adjacent building,“ he said. This leading international forwarding and distribution group based in Vienna has established itself on the markets of several European countries: for example of Italy, Great Britain, Poland, Romania and Russia.
ProLogis Park Sochaczew is a modern distribution park, which includes 6 buildings with a total area of more than 100 thousand m2 of office space and storage. It is connected to the road number 50 (Germany – Lithuania) and has its own railway siding, which is connected to the international train connection Berlin – Moscow.
The list of top ProLogis Park Sochaczew customers not only contains the Euro Freight Logistics. Among his other clients include such prestigious companies as Procter & Gamble, DHL and Gepol Pilkington Automotive. And the same applies to the portfolio of ProLogis in Warsaw region, which includes 9 distribution parks, a total of 39 buildings with a total area of over 760 thousand m2.
Mutual credibility even in a massive frame
The primary reason for the success of ProLogis is
certainly in expansion on a massive scale. The leading international owner and
manager of logistics real estate is managing on markets of North America, Europe
and Asia for more than 44 million m2 of industrial spaces, which hires more
than 4 500 customers. Among his clients belong various companies
– manufacturers, retailers, carriers and others. The common denominator of
all is mostly intensive use of logistics services, so definitely
nothing small.
Last but not least, there is also important the choice itself, where reputation and confidence of customer is emphasised, which will reinforce mutual credibility of both contractual partners. In the case of Euro Freight Logistics for example it is a certified provider of solutions for supply chain management in Poland. Knowledge of the industry branch, high level of customer service as well as the application of advanced technologies have enabled it to build a position of a solid and reliable partner on the Polish market for many international producers, traders and logistics providers, which may include storage, distribution, support of production and local transportation.
"ProLogis has taken several prudent measures that allow us to maintain a strong financial position, to retain financial means and leading market position and protect the company's brand in the current economic situation. In particular, the suspension of new development projects in the near future, which means that we concentrate on the lease of existing parks. We are not planning to build new storage facilities, " said Mario Sander, the director of ProLogis for CR and SR for Stavebné fórum in the summer.
A bank loan a confirmation of the project quality
Another leading international developer and operator
of modern logistics parks – PointPark Properties Company (until recently
acting under the name of Pinnacle gives reason for its re-christen by changing
its strategy and the need to increase awareness of their assets and unambiguous
identification on the pan-European level) when looking for escape from the
labyrinth of the crisis set out on the contrary on fully another exactly
opposite brand. And achieved what others only dream about: an investment loan
for refinancing construction of the distribution hall 5 in PointPark Bratislava
in Lozorno. The credit frame of 11.5 million Euro provided by VÚB bank. The
hall with the area of 28 thousand m2 already serves a tenant – Möbelix
Company from which this vendor of furniture supplies to the sales network of
countries in the Central Europe.
"Getting a loan in the period, which characterizes the more reluctant behaviour of banks in financing real estate, we see as success and confirmation of the project quality. We are one of the few companies that, despite the generally difficult economic situation, continue to build its parks. The hall 5 for Möbelix is continuing construction of the logistics park PointPark Bratislava, to which expansion the company is planning to invest almost another 100 million Euro, "said Peter Bečár, the managing director of PointPark Properties for SR. As recently in an interview for our Internet magazine said CEO of PointPark Properties, Ian Worboys, development is about control of risks, not chasing square meters.
Investment tailored to a specific tenant
Explanations how just in these times the thing was successful, will submit the best and without rumours the person who provided the loan: "VÚB very carefully evaluates all projects and applicants for funding. Regarding the quality project, which is, moreover, as in this case, tailored to a particular tenant, we like to support him financially. Our decision to join the project undoubtedly helped several factors, among them the perspective of the locality in Lozorno, the tenant and the renowned reliable developer. Similar projects we will like to welcome also in the future, "Pavol Hajdu, the director of project financing of VÚB, cannot conceal the interest in commercial real estate.
PointPark Properties, a leading developer, manager and operator of logistics warehouse space, since its inception in 2001, now operates in 10 European countries. Under the administration has more than 1.4 million m2 in 30 distribution centres and owns nearly 610 thousand-m2 areas for further construction in the Central Europe. In its strategy of growth for other key logistics markets of Europe intends to continue in 2010. The company aim is, to create a network of modern distribution centres for logistics, distribution and retail businesses as well as for companies with a focus on light industry through subsidiaries in Prague, Frankfurt, Bratislava, Warsaw and Madrid.
Photo – Key2B and archive
1, 2 – ProLogis Park Sochaczew (Poland)
3 – ProLogis Park Bratislava (Slovakia)
4 – PointPark Lozorno (Slovakia)
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