Industrial and logistics project developer Panattoni is continuing its European expansion with the opening of a new office in Vienna, Austria.
As of February 2022, the firm's Vienna office is managed by Jürgen Winklbauer, an experienced project developer, who has been appointed managing director of the firm's Austrian operations.
Panattoni has already started work on projects in the logistics hotspots of Graz, Linz and Vienna.
Said Winklbauer: 'I am sure that Panattoni’s entry into Austria will give rise to many new opportunities for the real estate and logistics sector.
'In doing so, we react to the strong demand for high-quality areas in logistics hot spots, such as Vienna, but also in other interesting regions of Austria.'
According to CBRE's most recent report, the Austrian logistics real estate market reached record volumes in 2021, notching up some €440 mln of investment capital. Around 390,000 m2 of logistics space was completed.
The high demand for new and modern logistics areas is driven by strong growth in online retail and meets a low rate of empty industrial and logistics units. Demand exceeds the current supply of rentals and investment opportunities, Panattoni said.
Austrian-born Winklbauer will be responsible for a team of business development and project managers. Previous roles have included work at well-known Austrian family offices, as well as at one of the largest logistics service providers in Europe.
Fred-Markus Bohne, managing partner at Panattoni, said: 'Establishing a new branch accommodates Panattoni's growth strategy as the European market leader, as well as the importance of the Austrian logistics and economic location.
'Jürgen Winklbauer, the head of the new Austrian Panattoni team, comes with excellent references from his many years of work in real estate and in the logistics sector. The new team is highly accomplished and has excellent skills.'
