Sustained high demand at Panattoni Europe
Panattoni Europe, a leading project developer of commercial and logistics real estate,
experienced a sustained high level of demand in 2016, implementing a large number of new projects. The company, whose main office is in California, has so far developed a total of 4.5 million square metres of logistics space in Europe.
In Poland, where Panattoni Europe is the market leader in the logistics segment, the specialist company is developing already the fifth logistics centre for Amazon. The facility is being built in Sosnowiec, Upper Silesia, on a site of 21 hectares near the Panattoni Park Sosnowiec I/II. The other already completed facilities in Bielany near Breslau, Posen and in the Czech Republic are in full operation. A further facility in Kolbitzow near Stettin is currently in the development phase. In total, Panattoni had construction starts in 2016 across Europe accounting for 1.23 million m², which calculates into commencing construction of a 25k building every week.
In 2016, the company also saw a dynamic development in its business in Germany, which is the most important focus market for Panattoni in Europe besides Poland. Since 2015, Managing Partner Fred-Markus Bohne and his team have successfully implemented 20 projects. His explanation for this success: “We have gathered a great deal of competence and know-how in our team and have an excellent network in all fields. Furthermore, as an owner-operated company we are flexible and can act very quickly.”
The projects implemented by Panattoni in Germany are primarily individual solutions, tailored specifically to the requirements of the customer (Build-to-Suit), with logistics areas of between 10,000 and 120,000 m². One such major project, for example, is the facility developed for the e-commerce company Jago in the Industriepark Rurtal commercial zone near Hückelhoven, which is one of the largest new developments in the German market.
Panattoni is also successful in the field of revitalising and re-zoning former industrial sites: The company has built two logistics halls of approx. 35,000 m² on a site of approx. 116,000 m² in the port of Düsseldorf, next to the container terminal. The BLG Logistics Group has already moved into the first building, and talks are currently in progress with parties interested in the second building on this site.
In Waiblingen near Stuttgart, Panattoni is carrying out extensive refurbishment of an existing two-storey building with construction of two additional new halls, creating a total of approximately 25,000 m² new space. SCHMALZ+SCHÖN Logistics GmbH, whose main office is in Fellbach near Stuttgart, will be the long-term tenant. The existing building will remain in use during the refurbishment and building phase. Completion is scheduled for the end of September 2017.
Fred-Markus Bohne expects market demand to remain at a high level. “A large amount of international capital is still flowing into the market. User demand will continue to be driven by E-commerce, efficiency improvements in industry and strategic re-orientation in traditional forms of trade and commerce. We are preparing for this market environment.” In this context, Panattoni Europe is launching the speculative development of four logistic parks. Within the next two years, the company is planning to create a total of approx. 250.000 m² of new logistics space.
Parallel to its business success, Panattoni is continuing to invest in the structure of its organization and expansion of its personnel team which will increase to over 25 members of staff by the end of 2017 in the four locations Hamburg, Düsseldorf, Mannheim and Munich. New recruitments are planned especially for logistics parks leasing, property management, finance, operations and transaction management.
Besides BTS and speculative developments, Panattoni also offers its services to clients who wish to benefit from the company’s specialist know-how in fee development, and takes care of property management for the rising number of properties it has developed.