Panattoni Europe said on Thursday that it has started development of its Panattoni Lódz business centre in Poland. This is Panattoni's first investment of this type, offering office space and logistics accommodation for small business units.
Panattoni Europe said on Thursday that it has started development of its Panattoni Lódz business centre in Poland. This is Panattoni's first investment of this type, offering office space and logistics accommodation for small business units.
The group has launched the construction of the first two facilities within the park which will cover 9,000 m2 of office and warehousing space each. Located about five km from the centre of Lódz, the scheme is already partially leased to DS Smith, a package and corrugated board producer, as well as a pharmaceuticals company, together taking 7,200 m2 in the park, the company added.
'The investment is inspired by an innovative idea to combine the functionality of a warehouse together with a representative office,' Panattoni said.
The announcement comes shortly after the sale at end-May of five warehousing facilities in Poland to European Property Investors Special Opportunities (EPISO), a fund co-advised by AEW Europe and Tristan Capital Partners, for about EUR 91 mln. The assets, built between 2007 and 2009 and located in Lódz, Poznan and Pruszkow, total around 170,000 m2 and are multi-let to over 18 separate tenants with 100% occupancy.
