Panattoni has secured €10.5 mln in financing from Bank Gospodarstwa Krajowego for its City Logistics Warsaw IX development in Targówek near Warsaw, Poland.
The 14,000 m2 urban park will be built in Warsaw’s Targówek district on ul. Utrata.
The industrial real estate developer has already leased 6,500 m2 to grocery brand Inter-Mlecz, which will use the space for freezer and refrigeration facilities.
Karina Trojanska, the chief financing & operating officer for Poland at Panattoni, commented: ‘City Logistics is a sector with huge potential that can also be seen by banks and financial institutions. These centres are modern business platforms that are designed to suit the varied operations of a wide range of tenants. These are centres for last mile operations, for courier services for manufacturing facilities and more and more often they are being used as laboratories, showrooms and R&D facilities. Such versatility attracts tenants thus allowing them to get closer to the final customer and so such centres are becoming an important component of the future industrial space market.’
Panattoni has already completed City Logistics Warsaw IV in Annopol, its largest urban development with an area of almost 40,000 m2.
One of the buildings has been fully leased out to Trumpf Huettinger, which will use the centre to serve markets such as the US, Japan, Korea and China.
Over the past five years, Panattoni has delivered 560,000 m2 in city logistics, of which nearly 150,000 m2 in Warsaw alone.
