Accolade is strengthening its position and expand warehouse capacity in Szczecin with new projects

by   CIJ News iDesk III
2024-06-11   09:25

• Accolade owns 300,000 sqm of existing modern warehouse space in Szczecin. Currently, there are plans and ongoing projects for an additional 200,000 sqm.
• In terms of modern warehouse space, Accolade is the largest investor in the West Pomeranian Voivodeship. The target portfolio in this region will amount to 900,000 sqm.
• Accolade focuses on investments aligned with the concept of sustainable development, earning BREEAM (Building Research Establishment Environmental Assessment Method) certifications for its industrial parks and supporting local communities.

Szczecin is the city where Accolade made its debut in 2015, opening one of its first industrial parks in Poland. With the growing demand for modern warehouse spaces, the investor consistently provided additional facilities. Currently, the company owns 6 industrial parks in Szczecin, either existing or under development, with a total area of 500,000 sqm and a value of approximately 440 million euros. One of the most notable investments in Szczecin is the Szczecin Załom Park. Covering 230,000 sqm, this location is the largest park in Accolade's Polish portfolio. Furthermore, the investment reflects the company's business strategy, which includes the implementation of projects in post-industrial areas. Together with other brownfield investments, Szczecin Załom Park accounts for 30% of the entire Group's portfolio. The focus on sustainable development is also evident in Accolade's achievement of the first BREEAM certificate with the highest rating of Outstanding for Park Szczecin III on Kniewska Street in Poland. In Szczecin, the investor also owns Park Szczecin IV and plans or is already executing additional investments, such as Park Szczecin V, Park Szczecin VI, and Park Szczecin Trzebusz.

“Szczecin continues to attract new tenants, especially companies looking to expand their presence in Poland and serve the Scandinavian and German markets. The West Pomeranian Voivodeship stands out for its favorable location, excellent infrastructure, and access to a skilled workforce. Our parks not only successfully meet the needs of world-class tenants but also contribute to the city's development. So far, within Accolade's parks in this region, 3,600 new jobs have been created,” said Joanna Sinkiewicz, Group Commercial Director at Accolade.

In addition to Szczecin, in the West Pomeranian Voivodeship, Accolade also operates industrial parks in Goleniów, Kołbaskowo, and Koszalin, offering spaces tailored to the needs of tenants from various sectors. According to the company's plans, the total area in this voivodeship will eventually exceed 900,000 sqm. The scale of operations, investor ambitions, and the desire to maintain good relations with tenants have prompted Accolade to open a regional office in Szczecin. Employees there provide asset management services and ensure active cooperation with local authorities and the community.

“The West Pomeranian region is the location of particular activity in recent years for Cushman & Wakefield and the tenants we advise. It is worth emphasising that 81% of the current market stock is represented by buildings constructed within the last six years, and almost 50% between 2020 and 2023. These figures are self-explanatory and clearly show that warehouse space has grown sevenfold over the last seven years. Furthermore, factors such as one of the lowest vacancy rates in Poland and high take-up growth potential create favourable conditions for planning new investments in the region. Especially the growing pressure of lead time among consumers and the pressure among tenants to optimise operating costs are positioning Szczecin as an ideal location for SDD (same day delivery) to the German market and for employing qualified staff at a significantly lower cost than in Pasewalk, which is 40 minutes away by car. The minimum hourly wage in Germany (EUR 12.41) is still significantly higher than in Poland (PLN 28.10), and taking into consideration also attractive rental costs and green utility solutions, tenants could register costs 64% lower when running a similar operation over the western border.” said Paulina Machałowska, Associate, Northern & Western Poland Lead.

For Accolade, long-term relationships with tenants are crucial, and their extensive portfolio combined with over 10 years of experience in both Polish and European markets enables flexible adaptation of warehouse spaces to the requirements of companies from various countries and industries. In addition to ready-to-rent industrial parks, the investor also prepares spaces tailored to specific tenants, customizing them individually. This chosen business strategy has resulted in collaborations with both local and international companies, enjoying established positions in the market.

The largest tenant among the Szczecin parks is Germany's Autodoc, which occupies more than 70,000 sqm of space. Significantly, it is also present in another park in Accolade's portfolio, Park Cheb South in the Czech Republic, where it leases more than 31,000 sqm of space. More than 50,000 sqm in Szczecin is also leased to Tyco Electronics. Other tenants include German company DS Produkte, as well as Scandinavian companies such as Pierce, Svendsen, Change, among others, and Polish companies PartyDeco, Comad, AS Max, Jaro, Inpost, Iglotex, and Inter Cars.

Accolade aims to ensure that all new parks are certified at a minimum Excellent level, focusing on initiatives such as enhancing energy efficiency in buildings, providing tenants access to renewable energy sources, investing in AED equipment, and implementing containers for electronic waste. The investor's activities extend beyond business, as evidenced by last year's outdoor exhibition dedicated to the industrial history of the Szczecin district of Załom, as well as educational workshops for children. External gyms have also been made available to park employees.

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