Panattoni Park Warsaw West V - completed and sold
Panattoni Europe sells another logistics facility – Panattoni Park Warsaw West V totalling 70,000 sqm. The buyer is a Dutch company, for whom this is the first investment in the Polish warehouse market.
Investors have an appetite for logistics assets. The growing demand for logistics and industrial space is a worldwide trend, driven primarily by the dynamic development of e-commerce. Because of that, Poland is seeing record-high demand for warehouse space, not only among tenants, but also investors. It is evidenced by the latest divestiture of a logistics centre Panattoni Park Warsaw West V. The buyer is a company controlled by one of the leading global real estate investment firms, making its first investment in Polish logistics real estate assets.
Poland is second only to Germany in terms of growth dynamics in the logistics real estate market in Europe. Over the past year, approx. 2 million sqm of new space was built and leased. The country’s central location, industrial and transportation infrastructure in place, access to a qualified workforce create sustainable conditions for further development of logistics real estate in Poland. Robert Dobrzycki, Chief Executive Officer Europe, comments: “The transaction involving the sale of real estate to a leading player in the European warehouse market confirms that the capital market regards class A warehouse facilities very highly. This is mainly due to the development of the e-commerce sector, generating record-high demand which translates into low vacancy rates, but also thanks to the appeal of the sector itself and the rates of return it offers”, adding: “What is more, the steadily growing costs of construction make existing facilities very attractive, as they are relatively cheaper than those only being built, which adds to their allure in the eyes of capital investors”.
Panattoni Park Warsaw West V, featuring close to 70,000 sqm, is located in the vicinity of the A2 motorway, on the way into Warsaw. The project was completed in Q1 2018.
Panattoni Europe is part of the Panattoni Development Company, one of the largest developers of logistics and industrial space in the world, with 26 offices in North America and Europe. Panattoni has been present in Europe since 2005, and has already delivered more than 6 million sqm of modern logistics and industrial space. The Panattoni Europe structure also includes a dedicated department responding to individual tenants’ needs – build-to-suit projects. Among key tenants are companies such as Amazon, Arvato Services Polska, Coty Cosmetics, DSV, H&M, Intermarché, Leroy Merlin, ND Logistics, Still, Schenker, Selgros and Tesco. Panattoni Europe operates in the United Kingdom, Poland, the Czech Republic, Germany and Romania. www.panattonieurope.com