Pan-European logistics specialist P3 Logistics Parks has acquired the Wroclaw Campus project in southwest Poland from developer Panattoni.
Financial details were not disclosed.
The project totals 185,000 m2 and has a BREEAM Excellent sustainability certification. Tenants include ID Logistics, Korean logistics operator Unico Logistics, GEIS, LX Pantos and automotive cable manufacturer Leoni. Currently the number of workplaces provided within the investment account for ca. 600 employees.
Robert Dobrzycki, CEO & co-owner Panattoni Europe, UK and India, said: 'Panattoni is the largest deployer of institutional capital in industrial and logistics assets in Europe, averaging around €7 bn a year.
'The sale of our Wroclaw logistics park to P3 demonstrates the sustained strong institutional investor appetite for industrial and logistics real estate. In Poland, new development supply continues to lag in meeting the need for space from industrial and e-commerce companies and the growing nearshoring trend.'
The Panattoni Wroclaw Campus comprises four buildings of a total of 185,000 m2 of space. The park has 10-metre-high clearance, and comprises five-tonne rack leg loading capacity, 319 dock levellers, 949 car and 67 truck parking spaces.
Potential expansion includes two additional buildings of 160,000 m2 suited for warehousing and light industrial functions. The region is already home to Europe’s largest producer of lithium-ion vehicle batteries for electric vehicles operated by Korean conglomerate LG (LGES Wroclaw).
The LG gigafactory will place Poland in third place in the projected rapid expansion of Europe’s electric vehicle battery production capacity out to 2031, after Germany and Hungary.
Wroclaw Campus is situated in an established logistics zone in CEE, which stretches from Szczecin in the north of Poland to Czech Republic, Slovakia, and Hungary in the south comprising more than 350 logistics parks comprising 20 million m2.
Panattoni was advised in the transaction process by DLA Piper. P3 Logistic Parks was advised in the transaction process by Greenberg Traurig, Gleeds, Cushman & Wakefield, and Delta Simons, PwC Poland.
