Panattoni Europe, Poland's leader in the industrial property market, is extending Panattoni Park Łódź East by another 11,300 sqm. The planned space has been leased by the park's existing customer - TERG-Mediaexpert specialising in the distribution of household appliances, consumer electronics and multimedia. The transaction was mediated by Jones Lang LaSalle.
Panattoni Europe has announced planned extension of Panattoni Park Łódź East, one of the developer's four modern distribution complexes situated in Central Poland. The new investment involves the development of an additional 11,300 sqm. The new warehouse space is an expansion of space leased by the park's customer, TERG-Mediaexpert. To date, the tenant has been leasing 12,000 sqm, and including the newly built space its warehousing centre will occupy a total of 23,300 sqm. The investment is part of a subsequent development stage of building 4, and its completion is planned for May 2014.
"We are very pleased to have been able to advise TERG-Mediaexpert for the second time in choosing an appropriate warehouse location. Continued cooperation is the best proof that our joint decisions have turned out to be the best" - commented Tomasz Mika, Head of Warehouse and Industrial Department, Jones Lang La Salle Poland.
Panattoni Park Łódź East occupies a special place in the developer's portfolio of logistics parks. It is a modern distribution complex, offering a wide range of solutions for warehousing, logistics and distribution. At present it comprises four buildings with a total space of 140,300 sqm, while at full build-out it will offer nearly 160 thousand sqm. The park is located at ul. Zakładowa in Widzew-Olechów district, which is in the direct vicinity of the "Łódź Wschód" junction on the A1 motorway (Gdańsk-Cieszyn), in the eastern part of the city, as little as 10 km from its centre. The good location allows the park's employees to commute using public transport, and guarantees the customers easy access to a qualified labour pool.
Panattoni Europe is currently implementing five projects to a total of 120,000 sqm of space. Since 2005, that is from the onset of Panattoni's presence in Central Europe, the developer has built more than 1.9 million sqm of modern industrial space in Poland and Czech Republic. The market appreciates Panattoni's systematically implemented development strategy and has shown its recognition in numerous awards. The most recent include the Tenants' Prize for the Best Logistics Park 2013 awarded at EASTLOG 2013 to Airport Logistic Park and the title of the Industrial Developer of the Year 2012 as part of the prestigious competition CEE Quality Awards (CEEQA).