Panattoni, Europe's leading logistics-industrial real estate developer, has taken stock of the first half of 2022 and has announced its forecasts and objectives for the second half of the year. The company plans to invest more than 450 million euros in the Iberian Peninsula in 2022, exceeding the 109 million euros invested in its first year in Spain, which has enabled it to position itself as the leading developer in Spain in terms of planned surface area and announced developments.
From day one, Panattoni has been firmly committed to diversifying its assets throughout the peninsula, in order to meet the new needs of operators in various booming markets. In this regard, the developer currently has 13 projects underway in 8 autonomous communities, totaling 430,000 sqm of GLA (gross leasable area). In addition to the traditional hubs of Madrid and Catalonia, the projects are located in the Basque Country, Valencia, Murcia, Aragon, Andalusia and Castilla-La Mancha, and are scheduled to be delivered in 2022 and 2023.
Of the 6 projects to be completed in 2022, which total 107,900 sqm of GLA, 4 of them have been developed at risk (53,800 sqm) and 2 projects in "turnkey" or BTS mode (54,000 sqm). Among the projects at risk are 'Panattoni Park Vitoria I', located in the Júndiz industrial estate, which in its first phase will have a leasable area of 18,100 sqm of GLA; 'Panattoni Park Valencia I', in the industrial area of Picassent, will have 18,757 sqm of GLA; 'Panattoni Park Bilbao City', developed in the Abra Industrial Estate, which will have 7,600 sqm GLA; and 'Panattoni Park Getafe I', which is being developed in the La Carpetania Industrial Estate and will have 9,300 sqm GLA. As for BTS (Build-To-Suit) projects, Panattoni is developing the 'Panattoni Park Murcia I' project for Alfil Logistics in the Parque San Andrés de Alcantarilla, which has 47,400 sqm of GLA, and 'Panattoni Park Sevilla II' which will have 6,600 sqm of GLA and is being developed in Alcalá de Guadaíra for TXT.
Furthermore, Panattoni will start another 7 projects during 2022 to be delivered next year, which total 320,000 sqm GLA. In the Mediterranean Corridor, they have 'Panattoni Park Tarragona I', located in La Bisbal de Penedès, in Tarragona, which consists of an already constructed building occupied by Naeko, of 40,000 sqm, and two new properties that will be developed by the developer and will total 105,000 sqm, with a total of 145,000 sqm of GLA. In Catalonia, work will also begin on 'Panattoni Park Barcelona I', located in Castellbisbal, which will have 17,000 sqm of GLA. In the Valencian Community, the developer will soon start work on 'Panattoni Park Valencia II' in Alzira, which will have a building with 61,000 sqm GLA. In Murcia, specifically in Alcantarilla, they will develop 'Panattoni Park Murcia II', which will consist of a building of up to 23,300 sqm GLA. As for the north, Panattoni has also started work on its two projects in the Zaragoza Logistics Platform, 'Panattoni Park Zaragoza II', with 15,400 sqm GLA and 'Panattoni Park Zaragoza III' of 24,200 sqm.
Finally, Panattoni is going to start the construction of its first project in Portugal, 'Panattoni Park Porto', which will have 74,000 sqm GLA. The development at risk will have two buildings of 27,000 sqm and 47,000 sqm, respectively, located in the industrial complex of Campo Valongo (Porto). This is a strategic location in the Portuguese market, with a direct connection to the centre of Porto, from which it is only 25 minutes away, making it an optimal asset for last-mile work.
"The results achieved by Panattoni Iberia speak for themselves of the great work done by all our teams, positioning us in record time as leaders in Spain in new offerings to the market," said Gustavo Cardozo, Panattoni's General Manager for Spain and Portugal. "Despite all the difficulties, 2022 is being a year of growth and we expect to maintain the momentum during the second half of this year. We will continue to look for strategic locations and erect state-of-the-art and environmentally friendly buildings so that any type of operator or user can count on the best assets in our market".
