Panattoni has finalized the sale of five logistics parks in Poland
Panattoni has sold five logistics parks in Poland. The buyer of the portfolio of fully leased facilities with a total area of 230,000 sqm is a North American investment fund.
Three of the sold logistics parks are located in Warsaw - one near the airport and two in the western part of the Polish capital. The fourth is located in the east of Poznań, in a strategic location by the A2 motorway between Warsaw and Berlin. The last one - near Radom in central Poland, 100 km south of Warsaw.
„Panattoni, after completing the investment on schedule and on budget, has successfully finalized the sale of these five, fully leased logistics parks in Poland to a leading global real estate investment manager. Although the economic outlook is no longer as good, industrial real estate remains an asset class that still enjoys great interest from investors. The recent sharp rise in construction costs and inflation indexation of rents make income-generating properties a very attractive proposition for investors. Fully leased facilities can be acquired below replacement costs”. - said Robert Dobrzycki, CEO and co-owner of Panattoni.
Panattoni is confident that the long-term prospects for the Polish industrial and logistics real estate market are good."There are many reasons for optimism, including the continuing strong trend of „nearshoring” due to disruptions in global supply chains, and lower e-commerce penetration compared to Western European markets. There is also still an appetite among international companies to set up production plants here due to the cheap, skilled labor force and a large domestic market." - believes the developer.
