PGIM Real Estate has acquired a property in Legnica, Lower Silesia, on behalf of its closed European Value Partners II (EVP II) fund. PGIM Real Estate is the real estate investment business of PGIM, the $1.5 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).
The 210,365 sqm site is located on a former military airport and the goal is to develop it into a Grade A big-box logistics property. The property has excellent public transport accessibility due to the regional train station Nowa Wieś Legnicka, which is located in the immediate vicinity. Construction is scheduled to begin this year.
The city of Legnica is located 65 km west of Wroclaw and about 80 km east of the German border, in the ”Polish Proximity Belt”. The region is regarded as a central European logistics location with high growth potential, due to the short transport times to the most important European markets and urban centers. Within a 2 to 3 hour drive from Legnica, the cities of Leipzig, Dresden, and Berlin can be reached.
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