Germany’s Garbe Industrial Real Estate announced on Friday that it has hired Prologis executive Martin Polák to lead its expansion plans across CEE.
Polák will join Garbe as managing director CEE and will be responsible for growing the CEE business following the acquisition last year of the technical consulting and planning company, Metroplan Eastern Europe.
Polák spent 12 years with Prologis in various roles, eventually heading a team of 80 professionals. In his most recent position, he served as managing director and head of region for Central Eastern Europe and controlled all of the company’s activities in the Czech Republic, Hungary, Poland and Slovakia.
‘The expansion into the CEE region is an important step for us, being part of our strategy for organic growth,’ says Christopher Garbe, managing director of Garbe Industrial Real Estate. ‘Martin Polák brings a wealth of experience in this region to the job. We are convinced of our joint ability to set up a successful team and to create a robust foundation for Garbe’s business in Central and Eastern Europe.’
So far, Garbe has focused mainly on logistics real estate in the four Western European markets of Germany, the Netherlands, France and Austria. The plans for Central and Eastern Europe (CEE) will initially focus on Poland, the Czech Republic and Slovakia above all. The company expects to move ahead with its first projects by mid-year.
Christopher Garbe adds: ‘Poland, the Czech Republic and Slovakia report the fastest growth rates in the e-commerce sector in Central Eastern Europe. Since the growth coincides with a large sales market, a low wage level and an established logistics market, these countries represent an interesting investment destination for investors. The favourable economic environment suggests moreover that the real estate market will continue to grow in future.’