Panattoni Europe sells Panattoni Park Warszawa–Konotopa
Panattoni Europe announces the sale of Panattoni Park Warszawa–Konotopa, located in the Warsaw region. The multi-tenant logistics centre comprises two buildings totalling close to 50,000 sqm and is fully leased. After the sales transaction is completed, Panattoni Europe will retain responsibility for managing the Park.
Demand for logistics assets delivered to investors by Panattoni Europe in Poland is not letting up. By the end of the coming August, the developer will have disposed of its logistics centre Panattoni Park Warszawa–Konotopa. The multi-tenant complex comprises two class A buildings totalling close to 50,000 sqm. The facility is optimally suited to the operational needs of customers from various industries, as evidenced by its fully leased status with 12 occupiers. The two biggest tenants – a paper distribution company and a diesel fuel injection systems manufacturer – take up half of the Park’s space. The centre is located in the Ożarów Mazowiecki commune, near Warsaw. The direct vicinity of the Konotopa junction ─ where the A2 motorway connects with the Warsaw bypass made up of the S8 and S2 expressways ─ makes this location quite exceptional. After the sales transaction is completed, Panattoni Europe will stay on as the facility manager.
“The sale of Panattoni Park Warszawa–Konotopa proves that the industrial real estate market in Poland keeps attracting investment companies, which pick up on the very good performance of the lease market, as well as the attractive returns on such investments, which are considerably higher than in other European markets. Investors’ appetites for logistics and industrial assets remain strong in all of Europe, including Poland, where well located, premium quality, modern logistics facilities are in high demand. These assets naturally come to occupy an increasingly important position in the portfolios of investors around the world, who take note of the positive outlook for logistics services in the coming years, particularly with the dynamic growth of e-commerce” – said Robert Dobrzycki, Chief Executive Officer Europe Panattoni Europe.
Panattoni Europe is part of the Panattoni Development Company, one of the largest industrial developers in the world, with 26 offices in North America and Europe. Panattoni has been present in Central Europe since 2005. To date, the developer has delivered more than 4.7 million sqm of modern industrial space altogether in Poland, the Czech Republic and Germany, and currently has close to 1 million sqm under development there. The company supports local businesses by delivering multifunctional logistics and industrial facilities suitable for various purposes, including build-to-suit projects which may be custom tailored to the user’s individual requirements. For the purposes of growing its operations, the developer also acquires land, securing sites for new investments in the most strategic locations. Among key tenants are such companies as Amazon, Arvato, Coty Cosmetics, General Electric, TNT, DSV, H&M, Bosch, Carrefour, Kaufland, Tesco, Castorama, Intermarché, Selgros, Leroy Merlin, ND Logistics, Still, Schenker. Apart from Poland, Panattoni Europe is also present in the United Kingdom, the Czech Republic, Luxembourg, Germany and Romania.