LEASING | LOGISTICS & INDUSTRIAL
DHL Express Bulgaria
Space: 10 171 sq. m.
Location: Sofia
In 2016, Bulgaria Air Maintenance (BAM) appointed Cushman and Wakefield Forton as their advisor in their endeavors to deliver a built-to-lease project, assigned by DHL Express Bulgaria. The project aimed to establish new headquarters and provide on-site logistics space. DHL had made a strategic decision to relocate their central distribution hub and administration as much close as possible to the Sofia airport. That flagship project would guarantee immediate access to the airport’s custom and cargo loading area. Forton assisted the developer Bulgarian Air Maintainance (BAM) through the process of tendering, meeting the assignor’s built-to-suit requirements, mediating terms and managing budgets along with attainment of the most stringent of deadlines.
CHALLENGES
The nature of DHL Express Bulgaria’s business imposed a locational limitation by logistics requirements related to the airport’s custom and cargo loading areas access. As these areas are under custom control mandate, they required specific monitoring procedures and regulations in line with Bulgarian and EU legislation for movement of goods.
The market could offer a limited number of available land plots suitable for large logistic premises and office headquarters in such an immediate proximity to the airport. Due to DHL’s list of strict requirements, BAM needed a partner to manage and negotiate the general set of lease terms, govern the built-to-lease project and supervise the implementation of compliance, fit-out parameters and ASTI, lead budget negotiations and coordinate the communication with the tenant’s representatives.
RESULTS:
Thanks to Forton’s landlord representation, BAM succeeded in their efforts to deliver a 10 171 sqm distribution hub along with an administrative headquarter premise in line with the client’s suitability requirements.
With Forton’s inclusive approach to delivering advisory services and keen attention to detail, BAM managed to deliver the built-to-lease project and provide a long-term lease offering to DHL.
