Panattoni, Europe's leading logistics-industrial real estate developer, has announced the start of the works of its Panattoni Park Valencia I project, a multi-client and modular development with approximately 18,000 sqm of gross leasable area (GLA) in the industrial area of Picassent. The construction will be carried out by Norton Edificios Industriales.
`Panattoni Park Valencia I´ is a project at risk that is able to accommodate 3 different clients thanks to the flexible conception of the space in two plots. The first one will have a building of 5,000 sqm GLA, and the second one will have a building of 13,000 sqm GLA, divided into 2 modules of approximately six and seven thousand sqm.
The development will offer optimal solutions for distribution and last-mile delivery, with a clear height of 11 metres, and a ratio of approximately 1 loading dock for every 700 sqm of warehouse space, each with a large truck manoeuvring area. In addition, each building will have a perimeter security fence and access control.
In this way, Panattoni is offering a multi-purpose logistic real estate project in an area that is experiencing a high demand from distribution and last-mile companies, but where there is limited availability of state-of-the-art space. The development has a strategic location on the Mediterranean Corridor, and in the fast-growing market of Valencia, where Panattoni has a second project in Alzira. The Picassent park has direct access to the A7 and A3 motorways, and is located in close proximity to the Port of Valencia and the airport.
In line with the 'Lean & Green' programme, the 'Panattoni Park Valencia I' project will be BREEAM 'Very Good' certified, and the buildings will be equipped with photovoltaic panels and electric chargers to supply clean energy to the electric vehicles used for last-mile delivery.
"Valencia is one of the markets with the highest demand for modern logistics space adapted to the demands of eCommerce. Logistics contracting has recovered strongly and is already practically at the same levels as in 2019, and we are confident that growth in this part of Spain is going to be strong. We are delighted to start the works in Picassent, in a strategic point within the Mediterranean Corridor," said Gustavo Cardozo, Panattoni's Managing Director for Spain and Portugal. "With its international dimension, Panattoni is in a position to offer buildings with the best solutions for a wide range of clients," added Cardozo.
The project is being commercialized by BNP Paribas Real Estate and CBRE, two first-class partners with valuable expertise in this type of asset.
For Joaquín Ivars Rodrigues, Director Levante - Office Valencia of BNP Paribas Real Estate, "Picassent has become the logistics point by excellence in the southern area of Valencia due to its quick access to the Port and city of Valencia and its excellent communications with Madrid and Barcelona. The new Panattoni park will become a reference point in the area due to its high construction quality and efficiency for the development of logistics activity. We are proud that they have chosen BNP Paribas Real Estate to market this project".
Javier Muñoz Pozuelo, Director of CBRE's Industrial Department in Valencia, Murcia & Balearic Islands, highlighted that "this is a project of significant added value, as it provides the logistics sector with state-of-the-art facilities in one of the fastest-growing areas of the Iberian Peninsula, at a time when eCommerce has grown significantly and is the main driver of the market. We are very pleased to be part of this operation, which will undoubtedly mean a lot for Valencia".