Terg SA extends lease agreement at Gdansk Logistic I

Terg SA (joint-stock Company) has extended the lease of warehouse and office space at Gdansk Logistic I in Poland. As a result of the agreement’s renegotiation, the owner of the Media Expert brand will be renting a total of 1,800 sqm in the complex managed by White Star Real Estate and Generali Real Estate for the next few years.

Gdansk Logistic I include three warehouse halls of the highest standard confirmed by BREEAM certification. The investment, with a total leasable area of more than 50,000 sqm, includes warehouse and office space. One of the tenants is Terg SA (joint-stock Company), a leader in the Polish consumer electronics and household appliances market, which occupies a total of 1,800 sqm as of 2021. A renegotiation of the lease resulted in an extension in May 2023.

The asset is owned by the pan-European fund “Generali Real Estate Logistics Fund” (GRELF) managed by Generali Real Estate S.p.A SGR. PM and leasing managed by White Star Real Estate.

Strategic location, urban and modern warehouse space and consistent development are the main factors that distinguish the Gdansk Logistic I investment. The growing demand for logistics space, combined with the potential of the region, means that we can offer tenants something more than a distribution center. It is the excellent location, supported by numerous investments in infrastructure or expansion of existing transshipment ports, which translates into reducing delivery times or increasing its reliability, and thus building a thriving business. We firmly believe that the long-term cooperation with Terg SA will result in even better results for the leader of the Polish consumer electronics and household appliances market, says Miroslav Nutil (Asset Manager) at Generali Real Estate, owner of Gdansk Logistic I.

Long-term cooperation is the best confirmation that the business decisions we make in terms of raising the standard of services offered and comfort for our contractors are the right ones. We know that our tenants appreciate the combination of location and operational capabilities that affect the expansion of their business. We are even more pleased with the outcome of the renegotiation of the agreement with Terg SA, owner of the Media Expert brand, which will use the space in Gdansk Logistic I for warehouse and office purposes for the next few years, says Urszula Rasmussen, Head of Industrial Leasing at White Star Real Estate, the manager and commercializing part of the transaction.

We are actively implementing an omnichannel strategy that ensures convenience, shopping security and short delivery times for all buyers. The successful execution of these initiatives has been directly influenced by investments made in modern warehouse facilities in key locations within the country in recent years, as well as efficient management of the existing infrastructure. The formal extension of our presence in Gdańsk Logistic I aligns perfectly with these efforts, and the effectiveness of our strategy is evidenced by, among other things, Media Expert's victory in the first Polish edition of the international Best Brands Awards program in the category of Best Omnichannel Brand, says Michał Mystkowski, Media Expert's spokesperson.

Gdansk Logistic I is a complex of three modern buildings, located in Kowale, on Magnacka Street, right next to the Szadółki transport hub and the Tri-City (Gdańsk, Gdynia, Sopot) Ring Road, just a few kilometers from the A1 Motorway and the S7 southern ring road. The close proximity to the center of Gdańsk and Gdynia, as well as the international airport in Gdańsk guarantee efficient distribution in all directions. The location within the boundaries of the agglomeration provides access to appropriate infrastructure and public transport, which is also an additional convenience for employees.

About investors and tenants

White Star Real Estate is a well-known, international real estate company with a first-class track record. Its team has been active in Central and Eastern Europe since 1997, leading the completion of over 50 development projects throughout the region. These projects include a large portfolio of landmark office buildings, as well as warehouse, retail, leisure and residential properties. White Star Real Estate is also an experienced asset and property manager, providing services to its clients for over 1.6 million square meters of commercial properties. White Star Real Estate is part of White Star Group, a holding company established to provide real estate management services and to make real estate and private equity investments primarily in Central and Eastern Europe.

Generali Real Estate is one of the world’s leading real estate asset managers with €38.6 billion of assets under management (as of March 30th, 2023). It leverages the expertise of more than 370 professionals, with operating units located in the main European cities.

The company’s integrated business model covers the full scope of asset management activities and the entire real estate value chain. A series of cross-border investment vehicles, managed by the specialized asset manager Generali Real Estate S.p.A. Società di gestione del risparmio, aims to create long-term value for investors with a core/core +profile by investing in assets characterized by good locations, high liquidity and strong underlying leasing dynamics. The portfolio under management comprises a unique mix of historical and modern properties, ranging from landmark buildings to new architectural masterpieces, which has enabled the company to develop best-in-class skills in the fields of technological innovation, sustainability and urban development.

Generali Real Estate is part of the Generali Investments ecosystem of asset management firms.

Terg SA specializes in the trade of electrical and electronic goods. The company owns the Media Expert shop chain and the Avans and Electro online shops. The company operates for more than 20 years and is a leader in the RTV and AGD market in Poland. TERG SA employs over 11,000 people and has a network of over 550 shops, in almost 440 cities across the country.