Panattoni sells two Łódź warehouses to a partnership between Kajima Properties Europe and Savills Investment Management on behalf of its Asian client
Panattoni, the European industrial real estate market leader have sold two warehouse facilities in Łódź to a partnership between Kajima Properties Europe and Savills Investment Management on behalf of its Asian client. The halls, with a total area of almost 145,000 sqm, were built as part of the Central European Logistics Hub.
Warehouse portfolio. The two warehouse facilities sold with a total area of 144,880 sqm were owned by a joint venture established by Panattoni and Kajima Properties (part of Japanese group Kajima Corporation – a leading contractor in construction projects around the world). The developer was advised by distinguished law firm Greenberg Traurig for this transaction, while the investor was supported by Savills Investment Management.
The two modern class A warehouses are both fully leased. “Their location in central Poland, at the intersection of major logistics routes, is undoubtedly to their advantage. The warehouses form part of the Central European Logistics Hub that we are building, the largest logistics centre on the continent with a target area of 600,000 sqm. So far, we have completed 370,000 sqm, with more under construction," says Robert Dobrzycki, CEO of Panattoni, who adds: “Polish warehouse and industrial facilities in attractive locations are becoming increasingly attractive to international investors, including those from Asia. The warehouse market has not only shown resilience to the economic impact of the coronavirus pandemic, but, on the contrary, has even benefitted from it, due to the rapid growth of the e-commerce sector.”
“Investors are aware of this market’s healthy prospects, hence their growing interest in portfolio diversification into the logistics services sector. I am glad that we could support our client in this. With this transaction, the value of our assets under management in Poland now exceeds EUR 1.5 billion," reveals Jon Crossfield, Head of Strategic Partnerships, Savills Investment Management.
The Central European Logistics Hub is situated on ul. Jędrzejowska in the eastern part of Łódź, just off the A1 (north–south) motorway. It lies just 30 km from the motorway’s junction with the A2 (the Łódź Północ junction). Due to its location at the intersection of these major European logistics routes, it is ideal not only for domestic but also international distribution. In addition to this, the location of the complex within the city limits allows employees to quickly and easily commute to work.