X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TERESIN, POLAND-Tesco plc has signed an agreement with ProLogis for the development and acquisition of a 418,253-sf national distribution center at ProLogis Park Teresin in Teresin, Poland, a city about 30 kilometers south of Warsaw.

Tesco, the United Kingdom’s largest retailer with over 2,200 stores in 10 countries, will own the facility upon completion, which is slated for November. In the meantime, Tesco will lease temporarily 80,827 sf at another location within the park. The value of the transactions is not being released by the parties involved and was not otherwise immediately available.

“With the acquisition of new business, Tesco had an urgent need to develop in-house distribution capacity quickly,” says Mark Champagne, supply chain and distribution director of Tesco. “ProLogis was able to meet our needs in terms of both a temporary lease solution and a build and develop solution.”

ProLogis Park Teresin is located adjacent to the international highway E30 and features rail-service connecting Western Europe with Baltic countries and Russia. The business park is located in close proximity to the Warsaw City Centre. Additional ProLogis customers in the park include Whirlpool, Danzas and Distriland.

Tesco says it anticipates developing an additional 300,000 sf at ProLogis Park Teresin in the coming years. Upon completion of the Teresin facility, Tesco will occupy 698,115-sf of logistics space in ProLogis’ Central European parks. In April, ProLogis inked a lease agreement with Tesco for a 279,862-sf facility in ProLogis Park Prague.

“We are pleased to continue working with Tesco as the company expands and strengthens its presence in Europe,” says Hans van Luijken, senior vice president and regional Head of Central Europe for ProLogis. “ProLogis Park Teresin is an ideal location for Tesco and other ProLogis customers as it provides access to major distribution channels throughout Central Europe.”

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.