Major Polish Cargo Operator Selects CTPark Gdańsk Port as New HQ With 10-Year Logistics Lease Totalling 21,000 sqm

Regulatory News:

CTP, Europe's largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), has signed a 10-year lease for 21,000 sqm at CTPark Gdańsk Port with major Polish cargo operator Morska Agencja Gdynia (MAG).

MAG has taken a 10-year lease at CTPark Gdańsk Port, a major new sustainable logistics park that CTP is developing in Gdańsk, Poland, having selected the prestigious and strategically positioned park as the new location for its company headquarters. Comprising more than 20,700 sqm of warehouse space and around 300 sqm of office space, MAG’s decision to integrate its existing warehouse space into one prime location will enable the company to optimise its processes and operations, facilitating the company’s growth and ambitions. The lease transaction was brokered by consultancy firm Newmark.

MAG was created over 70 years ago in 1951 to represent foreign shipping lines, shipowners, Protection & Indemnity providers, and to provide agency services for ships. In the 1990s, it expanded its scope of operations to include rail forwarding as well as goods warehousing and distribution. Today, MAG holds a leading position in the maritime industry in Poland, carrying out comprehensive multimodal transport of an extensive range of cargo.

MAG has leased space in the CTPark Gdańsk Port logistics park of approximately 21,000 sqm from where the company will provide warehousing services and transshipment of goods from various market sectors, including foodstuffs, industrial goods and photovoltaic systems. Logistics processes will be facilitated by CTPark Gdańsk Port’s unique location, between the only deep-water terminal in the Baltic Sea region - the Baltic Hub - and the A1 motorway. Around 40 people will be employed at the new headquarters.

CTPark Gdańsk Port is strategically located between the largest transshipment port on the Baltic Sea and the Gdańsk northern railway port. The excellent location of the facility is particularly important for customers with cross-border operations in Scandinavian and Baltic countries.

Currently under construction and nearing completion, CTPark Gdańsk Port is located on an area of 21.3 ha and will ultimately consist of two facilities with a total area of 117,000 sqm. MAG’s 10-year lease commences at the beginning of March 2024 and CTP anticipates that the entire complex will be in operation by mid-2024. To date, 47% of CTPark Gdańsk is already pre-leased.