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Published:

28.07.2022

Panattoni to expand its space in Warsaw Spire to 4,500 sqm, with lease until 2028

Panattoni, the market leader in industrial real estate in Europe, remains in Warsaw Spire. The company will lease 4,500 sq m from August next year. This is the result of Panattoni's dynamic growth in recent years.

Published:

28.07.2022

Warsaw Spire

Panattoni, the market leader in industrial real estate in Europe, remains in Warsaw Spire. The company will lease 4,500 sq m from August next year. This is the result of Panattoni's dynamic growth in recent years.

Panattoni's existing office space in Warsaw Spire will grow from 2,900 sqm to 4,500 sqm. The more than five-year contract will be in effect from August 2023.

- "The pandemic years favoured the development of the industrial real estate. This was, among other things, a result of the turbulence in supply chains, nearshoring and, above all, the rapid growth of e-commerce. Last year alone, we signed leases for more than 3 million sq m of space. Such demand remains strong, despite high levels of inflation and concerns about the economic slowdown. We are therefore planning further systematic expansion both domestically and in Europe to ensure that our business continues to grow." explains Robert Dobrzycki, CEO and co-owner of Panattoni.

When Panattoni leased its first space in Warsaw Spire for its main office in 2017, the developer had 4.3 million sq m of space in Europe, of which around 3.3 million in Poland. Currently, Panattoni's completed investments amount to 14 million sq m across Europe. At the end of June this year, a further 3 million sq m remained under construction in Poland alone.

- "We are delighted that Panattoni's dynamic growth translates into the continuation of our long-standing cooperation, not only in the field of warehouse consultancy but also with respect to offices. The three consecutive transactions for the company's office space in which we advised Panattoni, including the extension of the lease of office space at the headquarters in Warsaw Spire, are the best example of this. Thanks to our strategic approach, we were able to guarantee the tenant very favourable commercial terms and a high degree of flexibility within the new space lease," comments Mateusz Bonca, CEO of JLL Poland.

- "We are equally pleased with each signed lease, especially when looking at the highly competitive market environment. Having such a significant and growing company as Panattoni among our tenants, which not only prolongs but also extends the lease agreement at myhive Warsaw Spire, once again confirms the attractiveness of our product," - Jarosław Retmaniak, Country Manager Finance & Support Poland, IMMOFINANZ, commented.

Warsaw Spire is a complex of three buildings: A 180-metre skyscraper (220 metres with spires) and two smaller side buildings. The total area of the building is over 100,000 square metres. Its excellent location at the great transport hub at Rondo Daszyńskiego, including the second metro line and numerous tram and bus stops, provides all tenants with a convenient connection to the entire city and quick access to stations and the airport. As of 2019, the skyscraper is owned by Immofinanz. The company purchased it for €386 million, a record in the Warsaw office property market.

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