Panattoni announces the acquisition and development of a project of more than 100,000 sqm in the Basque Country

Panattoni Iberia has announced the acquisition and development of a new project in the ARASUR Industrial/Logistics Park, located in Álava, Spain's most industrially significant region. This ambitious project includes the purchase of five warehouses totalling 85,000 square metres of gross leasable area (GLA), currently leased to prime tenants, and the opportunity to develop a sixth warehouse with 21,000 sqm of GLA, endorsed by BREEAM sustainable construction certification at ‘Very Good’ level. It is important to highlight that this newly created project will be called Panattoni Park Álava.

Panattoni's continued focus on the Basque Country underlines its commitment to expansion in key markets and represents a significant investment in one of the regions with the highest tenant and rental demand. ARASUR is a consolidated and well-established logistics/industrial park in Spain, strategically located at a crossroads between the AP-1 and the AP-68, close to the French border. This industrial estate, known for its excellent state of conservation and its comprehensive services, has a cafeteria, petrol station, and an infrastructure to offer additional services and an area for parking and resting trucks. In addition, the proximity to the Talgo factory adds significant value to its location.

The project includes not only the acquisition of five existing warehouses, but also the construction of a new 21,000 sqm GLA warehouse, whose BREEAM ‘Very Good’ certification ensures that high standards of sustainability and energy efficiency are achieved. The new warehouse can accommodate up to five tenants in five units and will have a fire load for Medium Risk 5 activities, is scheduled to start development in the fourth quarter of 2024. In addition, technical improvements will be made to the five existing warehouses, including the installation of chargers for electric vehicle fleets and the pursuit of BREEAM sustainable construction certification in use for the warehouses.

The strategic location of the park offers direct access to the main road network, port and airport. In 2021, an intermodal station or ‘dry port’ (inland intermodal terminal) was created connecting ARASUR with the Port of Bilbao, facilitating the unloading of goods coming from the port and their subsequent distribution by road. The terminal, with a surface area of 63,440 square metres, has two tracks for receiving and dispatching trains and another two for loading and unloading. This infrastructure, together with the fenced enclosure and the single controlled access, ensures a reliable and efficient environment for logistics operations.

The development of this project in ARASUR will contribute to the availability of logistics assets in the region, providing an important economic and logistics boost. This project will not only create employment, but also improve local infrastructure, underlining Panattoni's commitment to innovation and sustainable development in the logistics-industrial sector.

‘We are very proud to be able to take over from the public-private initiative that successfully initiated the ARASUR environmental project and to contribute our drive and experience to continue its development,’ says Gustavo Cardozo, Managing Director of Panattoni Iberia. ‘This new initiative in the Basque Country not only strengthens our presence in Spain, but also promotes the economic and logistical growth of the region. This development represents a significant investment that will improve local infrastructure, create employment and attract first class tenants. At Panattoni, we are convinced that this strategy will contribute positively to the revitalisation of the area, benefiting both businesses and local communities.

"This is excellent news for our territory. The consolidation of Arasur as one of the best logistics platforms in Spain means that leading and important companies such as Panattoni are investing in its facilities and its privileged location. I believe that in the near future, Arasur will be studied in business schools as a successfully developed public-private financing project, where the impetus of the Provincial Council of Alava and the Basque Government were decisive” Peio Ruiz, President of the ARASUR Logistics Platform, points out.