Polish Logistics, a new investment vehicle established by IO Asset Management and REINO Capital with the backing of Grosvenor Group, has completed its first investment, a prime logistics park Logistic City located in Piotrków Trybunalski, south of Lodz, from a private investor.
Polish Logistics was advised by Savills and Linklaters and the vendor was advised by Axi Immo.
Logistic City comprises 135,000 sq m of built and leased space and development land with the potential for a further 300,000 sq m of build-to-suit space. The built space comprises four units, let to seven tenants. The main tenant, occupying half of the space, is Jysk, the Danish retail chain.
Polish Logistics LLP intends to expand its portfolio through the acquisition of both standing investments and land for build-to-suit developments. It represents the third investment programme for IO Asset Management and Grosvenor. The first two were of multi-let industrial assets in the UK.