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7R steaming ahead

Eurobuild CEE 06 March 2020
7R steaming ahead
In 2019 7R delivered around 288,000 sqm of warehouse space, more than double that developer in the previous year (122,000 sqm) and signed 43 lease agreements for almost 290,000 sqm in total (up by 45 pct y-o-y).

Last year's largest investment deal on the warehouse market was the sale by 7R and Hillwood of a joint portfolio in Tczew, Kraków and Warsaw to GLL Partners for EUR 175 mln. The developer also sold two other projects to SELP.

In June 2019, SELP bought a warehouse park in Wrocław, and in the autumn 7R signed an agreement to construct a City Flex centre in Łódź on ul. Transmiscyjna. At the beginning of this year, SELP purchased two more City Flex urban warehouses with one in Łódź, and the other in Wrocław. In total, 7R has signed four joint transactions in just eight months.

“We will continue to develop logistics parks and our network of City Flex urban warehouses across the country, focusing heavily on markets outside the Big Five. Investor interest in our projects remains strong, so we expect to conclude further sales transactions. Eco solutions are becoming increasingly important in the warehouse sector, which has been increasingly something both our customers and other logistics tenants have been focussing on. That is why this year we have announced the creation of a new 7R Green product line. Green practices must become the standard on the warehouse property market as a clear response to continual climate change,” says Tomasz Lubowiecki, president of the board at 7R.

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