ARTICLES LABELLED WITH TAG Panattoni Europe

Panattoni Europe announces that Tritax EuroBox, which invests in Continental European logistics real estate assets, has exchanged contracts to acquire a prime, modern national logistics facility at Strykow, Lodz, in Central Poland, let to Castorama Polska Sp. z o.o., one of Europe’s leading DIY retailers and part of Kingfisher plc. The total consideration payable by the company is €55 million (excluding purchaser's costs), reflecting a gross initial yield of 5.8% on the asset acquisition.

Panattoni Europe opened Panattoni Park Białystok, featuring in excess of 41,000 sqm of Class A logistics and industrial space. The park is a multi-tenant facility suitable for a range of industries – from logistics to production. The complex is currently 60% leased.

Panattoni Europe plans to transform the former Škoda Plzeň complex in the Borské terasy area in Pilsen into a modern technological centre. The extensive 28-hectare brownfield is currently empty, but it has great infrastructure and is well connected to the surrounding industrial plants. Panattoni Europe’s plans are in line with the current development strategy of the city of Pilsen and are currently undergoing an EIA environmental impact assessment. The total amount of investment is estimated at more than €77 million (CZK 2 billion).

A recent report by CBRE and Panattoni Europe confirms a sustained positive outlook for the logistics market in Poland. The Logistics and Supply Chain Confidence Index in Poland stands at 57.4 pts (3.3 pts down from last year). Optimism is higher among logistics companies (64.1 pts) than among manufacturers and traders relying on logistics services (50.4 pts). What is more, as many as 8 out of 10 respondents expect to increase their revenues in the coming 12 months, and 6 out of 10 plan to increase headcount.

Panattoni Europe announced a new warehouse and manufacturing project which provides for the construction of a hydraulic components factory for Voss Fluid featuring in excess of 10,000 sqm. The investment is situated at the Legnica Special Economic Zone (LSSE) and uses the BTO (build-to-own) formula. The transaction was mediated by JLL. Completion of construction works is anticipated in March 2019.

Panattoni Europe has laid the cornerstone to mark the beginning of the construction of a dishwasher factory for BSH Sprzęt Gospodarstwa Domowego, dedicated to Industry 4.0. The facility, featuring close to 58,500 sqm, is being built in Łódź next to the Central European Logistics Hub and is the developer’s largest manufacturing project. Completion of construction works and handover of the facility to the investor is planned for the beginning of 2019, and first appliances will leave the factory in mid-2019.

Panattoni Europe has launched a new project, Panattoni Park Bielsko-Biała III, which is with close to 68,500 sqm is the largest investment project in the Podbeskidzie region. The complex has already secured its first tenants, including Seifert Logistics Group (7,500 sqm) and an interior design company (3,600 sqm), who will be able to move into the facility in spring 2019.

Panattoni Europe has embarked on the construction of City Logistics Warsaw I, planned to total 26,000 sqm. Completion of construction works and delivery to the tenants is planned for the coming October.

ELI, a company incorporated in Netherland, and co-managed by Griffin Real Estate (GRE), finalised the acquisition of a portfolio of nine operating logistics parks developed by Panattoni Europe. The value of the deal is around €200 million. At the same time, Panattoni Europe jointly with ELI plans to invest circa €800 million to enlarge the newly acquired portfolio into a leading Polish logistic platform. GRE and Panattoni will co-manage the new venture going onwards.

Panattoni Europe nears the finish line with the launch of its fourth logistics centre in Tricity. Panattoni Park Gdańsk IV, with 41,500 sqm planned at full build-out, is only 4 km away from the Port of Gdańsk and the deep-water container terminal DCT Gdańsk, and the first tenants will be able to move into it already in the coming August.