Search
 

Fully Leased Warehouse Fetches Just Under $15M

POZNAN, POLAND-Per a forward purchase agreement, GE Commercial Finance Real Estate Central Europe agrees to pay a Dutch developer $68.50 per sf for a 215,278-sf warehouse here that is under construction and has been preleased on a long-term basis by a Polish based food and home goods distributor.

By Brian K. Miller | Updated on September 15, 2005

POZNAN, POLAND-GE Commercial Finance Real Estate Central Europe is acquiring a 215,278-sf warehouse here that is under construction and has been preleased on a long-term basis by EuroCash, a Polish based food and home goods distributor. The seller is Dutch developer Grontmij Real Estate International. The purchase price is $14.78 million (euro 14 million), or $68.50 per sf.

The EuroCash building will be ready for occupancy in November. The build-out includes 51,612 sf (4,795 sm) of office space. The development site is situated at the south-west edge of Poznan, next to the A-2 highway that runs from Berlin to Warsaw. The building marks the first phase of a larger logistics centre development GRIE is developing called Tulipan Park.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.