Panattoni to develop new 30,000-m[sup]2[/sup] German facility

European logistics developer Panattoni Europe has commenced development on a new 30,000 m² warehouse facility for Lear Corporation, a global supplier of automotive seating and electrical power management systems.

The project is being developed as part of the joint venture between Panattoni and Pramerica Real Estate Investors.

The new facility will be 100% leased by Lear and will be situated in Bremen's Hansalinie business park. The park is located next to the A1 motorway, connecting Hamburg, Bremen and Germany's core industrial region. Construction work commenced in June 2012 and the project is scheduled for completion by the end of the year.

The facility will house Lear's existing operation in Bremen which will be relocated and from which it has served several large clients in the automotive sector for nearly 20 years.

Panattoni Europe is part of the Panattoni Development Company, one of the largest industrial/warehouse developers in the world, with offices across North America and Europe. Since entering Europe in 2004, Panattoni Europe has developed over 1.7 million m² of space.