Panattoni, leader of the industrial real estate market in Europe, has announced the start of the Panattoni Park Valencia Sur project, consisting of the simultaneous development of 2 buildings of 14,000 m2 and 6,000 m2. Located in the industrial zone of Picassent, Valencia, the buildings are part of the development of two plots with a total area of 22,700 m2 and 9,000 m2, respectively. Panattoni Park Valencia South will be able to accommodate up to 3 different clients, where 18.000 m2 will be designed for warehouse and 2.000 m2 for offices and mezzanines.
Panattoni continues to expand its portfolio in Spain, entering one of the key markets such as Valencia. Its strategic location as part of the Mediterranean corridor gives Panattoni Park Valencia South access to 30% of the Spanish population in less than 3 hours. With direct connections to the A7 and A3 freeways, as well as to the Port of Valencia, Valencia airport and the cargo terminals and railway station.
Thus, the project located in Picassent will have two state-of-the-art buildings designed to strengthen the quality supply in this area and to respond to the high demand of distribution and last mile companies in the south of Valencia. With a BREEAM Very Good certificate, both buildings will be projected on the highest standards, with a free height of 11 meters, they will be able to store up to six heights. The buildings can be easily adapted to develop cross-dock, last mile, industrial light and traditional logistics activities, meeting the standards of the most demanding customers.
"Panattoni continues to expand its portfolio in Spain, positioning us in a key market such as Valencia. Despite the current context, different indicators point to the increase in logistics activity in Valencia, in line with the absorption trend of recent years. Our objective is to respond to this logistic demand with buildings and developments of the highest quality and at the most competitive rental prices in the market," said Gustavo Cardozo, Managing Director Spain & Portugal of Panattoni.
The purchase operation has been intermediated by the consulting firm Busenver S.L., while the commercial intermediation will be carried out by CBRE and BNP Paribas.