Cromwell secures over 25,000 sqm of space across Europe for CEREIT

Cromwell recently secured three separate leases in Denmark, Poland and France, totalling a combined 25,000 sqm of office and light industrial/logistics space, on behalf of Cromwell European REIT (CEREIT) to well-established multinational and domestic corporations.

The largest of the three leases is for a 15,444 sqm light industrial / logistics space in the Parc de Popey asset leased to a major postal service and logistics company largely owned by the French government. The tenant-customer renewed its lease for a 3/6/9 lease structure at the asset located in Bar le Duc, the centre of the Grand Est Region in eastern France. It has made significant investments in highly specialised machinery, establishing Parc de Popey as one of the most important industrial parcel distribution centres in the region.

UBS Business Solutions have extended their 5,000 sqm lease in Krakow, Poland’s second largest city and largest regional office market until 2026. The lease is in Kraków’s Green Office Complex which consists of 23,000 sqm of net lettable area across three buildings, currently fully let to a range of international and domestic tenants. It is located in the ‘Krakowski Park Technologiczny’ Special Economic Zone, a leading office location for technology companies in Kraków and situated close to the Kraków motorway ring road which is linked to the Kraków Airport.

A 5,314 sqm lease was also signed with Hverdag.dk, a new tenant, at Prioparken 800, a logistics centre located in Brøndby, Denmark, just 1.5 kilometres from Glostrup city centre that benefits from good access to highways E47 and E20. Like many European countries Denmark has experienced strong logistics sector growth as a result of COVID-19 lockdowns. The lease is comprised of 1,240 sqm of office space, 1,892 sqm of low-ceiling warehouse space and 2,182 sqm of high-ceiling warehouse space and will support the tenants fast-growing e-commerce business.

Wouter Zwetsloot, Cromwell’s Head of Real Estate, Europe said, “We are delighted to have been able to execute these leases on behalf of CEREIT.”

“Despite ongoing COVID-19 restrictions our pan-European platform combined with our teams of skilled and on-the-ground property professionals have shown a high degree of resiliency and ability to continue to successfully execute transactions and leasing strategies on behalf of our investors and capital partners.”