Panattoni begins construction of speculative space near Krakow Airport

Panattoni, the most active industrial property developer in the world, begins the construction of City Logistics Kraków Airport II worth 34 million euros. It will be located near Balice Airport - the second largest airport in the country. The investment will become an excellent platform for services like last-mile logistics and e-commerce.

The Krakow industrial space market shows one of the lowest vacancy rates in the country - below 1 percent - and the demand for modern facilities does not decrease. Panattoni, responding to the demand, starts the construction of City Logistics Kraków Airport II with a target area of 21,330 sq m within one building. Developer will complete the investment at the beginning of 2024 in the immediate vicinity of the international airport in Balice. It is the second largest airport in the country, which in 2022 served 7.4 million passengers, nearly 2 million more than the airport authorities forecasted at the beginning of the year. The location will provide excellent exposure to the Krakow market, supporting last-mile logistics, especially the e-commerce industry.

The facility will also be located in the immediate vicinity of the A4 motorway, allowing for quick connections to key centers of southern Poland - such as Rzeszow, Katowice, or Wroclaw - as well as the south-western and south-eastern border. The investment will also be within less than two hours from the Czech and Slovak borders.

- Krakow is the city with the second largest population in Poland, and Balice Airport is the second largest in the country in terms of passengers served. Our new investment allows us to take full advantage of the great benefits of the location and is great news for businesses that need industrial space in this region. Moreover, City Logistics Kraków Airport II comes into being at the perfect time, when the Krakow airport plans to build a new cargo terminal, which will naturally expand the port's transport capabilities. We are not slowing down and plan further investments in Lesser Poland -  says Michał Samborski, Head of Development at Panattoni.

Panattoni continually develops its portfolio in the region, where it has already delivered approximately a quarter of a million square meters of industrial space. The developer, for example, at the beginning of this year, delivered 21,000 square meters for Trivium Packaging - a global manufacturer of metal packaging - and it was the largest completed project for a single client in the company's Krakow portfolio. Panattoni's growth in Lesser Poland has generated a need for a new regional office. In the first quarter of this year, the company rented nearly 600 square meters of space in the W3 building on Wadowicka Street in Krakow, where a team of over 20 people work. It is over five times more space than the previous headquarters of the Lesser Poland branch, additi