The developer sums up 2009. Panattoni Europe, the leader of Poland's warehouse market, has summed up 2009. The developer leased a total of over 250,000 square metres of warehouse and office space, most of it in Build-to-Suit projects, custom-tailored to its clients specifications.
Even though 2009 was difficult for the industry, it was a developmental milestone for the company. Despite the economic slump, Panattoni increased its market share to 44.5%, taking the unquestionable lead in new lease contracts. The developer has been present in the market for as little as 4 years and its first lease contracts with the tenants are still in force, so its excellent performance is based solely on new contracts, which is a double feat in difficult times. Moreover, Panattoni has taken the lead in the BTS segment by signing contracts with the biggest investors in the FMCG and pharmaceutical sectors. It has also received two prestigious CIJ Awards, in recognition of the developer's flagship investment: Panattoni Park Myslowice, and for business management.
As in previous years, Panattoni signed record-breaking contracts in individual industries. This year, the biggest contracts were signed to build facilities custom-tailored to the needs of firms from the pharmaceutical and food sectors. Torfarm SA, a leader in pharmaceutical distribution supplying pharmacies nationwide, signed a contract with Panattoni Europe to develop 35,000 square metres of warehouse space in the Warsaw and Poznan region. Build-to-Suit contracts include as many as three providing for Panattoni to find locations for clients such as Torfarm SA and Farmacol.
In 2009, the park in Myslowice enjoyed the keenest interest of clients, with Panattoni leasing nearly 50,000 square metres of space. The facility's new clients are Intermarché, which started operating its distribution centre in Myslowice, and PartnerTech, which uses the space as its production facility. Also the Warsaw region was abuzz with business, with contracts signed for approximately 70,000 square metres. Particularly the end of last year brought a lot of new transactions for over 23,000 square metres, which reduced the developer's vacancy rate to 4% across the portfolio.
The new customers in the Warsaw region included: Henkel, Mode Com, Mercator Papier, Teoma and companies from the pharmaceutical sector: Astellas Pharma, Hand Prod and Poltraf. Also, in the Poznan region, a series of contracts were signed for over 56,000 square metres. New Panattoni customers in this region include: C. Hartwig Gdynia, Newell Rubbermaid and Farmacol.
Investment plans for 2010
In 2009, Panattoni commissioned nearly 240,000 square metres of warehouse and office space in Poland and it continues developing its portfolio. Currently, with a number of new projects launched, nearly 100,000 square metres are under construction. Panattoni has started Phase 3 of Panattoni Park Lódz East, where the third, 17,000 square metre building is being erected, and the construction of facilities for Farmacol and H&M are under way.
In 2010, the developer intends to focus on winning new BTS transactions and extending the existing facilities. In Central Poland this applies to Lódz, in the Warsaw region: the parks in Ozarów and Teresin, in southern Poland: Gliwice, Czeladz and Myslowice, in the north of Poland: Gdansk, in Lower Silesia: Wroclaw. There will also be further development of the facilities in the Czech Republic (Prague) and Slovakia (new market in the portfolio since 2009), where the developer has started projects in Trnava and Senec