Panattoni, Europe’s logistics and industrial real estate market leader, has announced the acquisition of 46,920 m2 plot of land that will be used for the development of a logistics project in the municipality of Castellbisbal, Barcelona. This will be their first project in Catalonia and will be able to adapt to meet market demand by developing either a warehouse building of 18,000 m2; or a crossdocking warehouse for last mile distribution of up to 14,000 m2.
With this announcement, Panattoni gives new impetus to its policy of growth in Spain, quickly placing itself in the most significant markets of the Logistics Real Estate sector. Panattoni Park Barcelona City I, will be located in the Industrial Park Can Estapé, Castellbisbal, adjacent to the city of Barcelona. At less than 20km away from the centre of Barcelona, with excellent connections to motorways, multimodal centres and the Port of Barcelona, it is a very strategic location for merchandisers both in e-commerce and last mile operations.
"Panattoni’s arrival in Barcelona with this project is an important milestone for the company, and achieving it so soon after entering the Spanish market is very satisfying for us. The limited availability of logistics facilities within the Barcelona area, coupled with growing demand driven by the recent rise of e-commerce, make us confident that this operation will be a guaranteed success. To that end, we offer our customers a high quality product, tailored to their needs, at competitive prices that characterize our developments," said Gustavo Cardozo, Managing Director of Panattoni for Spain and Portugal.
The transaction was brokered by the consulting firm Cushman & Wakefield, who will also lead the marketing of this development. The construction of the project – once it is launched – is expected to begin in the second quarter of 2021.