Panattoni Europe in €200m German expansion drive
American commercial and logistics property developer Panattoni has major plans for an expansion of its German operations, and said it expects to invest at least €200m into the German logistics sector along with selected partners over the next 12 months. It is also planning several new hires to boost its German team to support the expansion.
According to Artur Mokrzycki, Head of Capital Markets at Panattoni Europe, “The development of e-commerce, modernisation and growing integration of supply chain processes between Central Europe and Germany are boosting market dynamics in this part of the continent, and Panattoni’s long-term presence in this region opens development prospects for the future. We see there is a wide spectrum of opportunities for us, ranging from core to value-added strategies on build-to-suit and multi-tenant parks, either via green or brown field developments.”
The group is no stranger to Germany, having already built 6 projects, mainly build-to-suit facilities, totalling 140,000 sqm altogether of warehouse space. The properties are located in Alzenau in Bavaria, Schwäbisch Gmünd, Lorsch in southern Hesse, Bodenheim in North Rhine-Westphalia and two parks in Bremen. A new distribution centre is currently under development for BLG in Bremen, while construction works are also about to be kicked off on two new projects near Hamburg and Frankfurt.
Panattoni Europe is headquartered in Luxembourg, with offices in Germany, the Czech Republic, and Poland. It offers clients a full-service package, including site selection, environmental analysis, architectural and engineering services and financing. The group has delivered 2,500,000 sqm of commercial buildings in Europe in practically every market segment, from small logistics/industrial facilities amounting to less than 5,000 sqm through to distribution centres of more than 100,000 sqm, and up to complete logistics parks, for clients such Amazon, Coty Cosmetics, DSV and Dachser Logistics. It currently has 1,700,000 sqm of space under management.