Panattoni has delivered Panattoni Park Kraków East IV. The development is now to be financed with a €10.5 million loan granted by Bank Gospodarstwa Krajowego. The centre has been fully leased out to OMEGA Pilzno.
The bank loan for Panattoni Park Kraków East IV is the second to be granted to the developer within a short period of time for projects in the Małopolska region with a loan having also been issued this month for the development of City Logistics Kraków III.
“Our developments are highly regarded by financial institutions, which is clearly proven by the approval of yet another significant loan, this time for the development of Panattoni Park Kraków East IV. The centre has been built in the town of Niepołomice, which is one of the most attractive locations for industrial real estate in Małopolska and it is now already fully commercialised. We want to thank Bank Gospodarstwa Krajowego for their confidence in us and for their partnership approach to working with us”, says Karina Trojańska, Chief Financing & Operating Officer at Panattoni.
The entire 18,100 sqm area of Panattoni Park Kraków East IV has been leased by Polish logistics operator Omega Pilzno. The company will be able to make use of a range of sustainability and energy-saving solutions and the centre is to undergo BREEAM certification for a rating of Excellent. The development is near one of the junctions on the A4 motorway.
Last year, the developer finalised Panattoni Park Kraków North with an area of 56,500 sqm, its largest project in the Małopolska region. It also completed two parks in the town of Skawina: Panattoni Park Kraków West I and Panattoni Park Kraków West III. This year two developments have been handed over: City Logistics Kraków Airport II and Panattoni Park Kraków East IV, while City Logistics Kraków III remains under construction.
“The industrial real estate market in Kraków has its own specifics with limited land available and a low saturation level and as a result, the region has one of the lowest vacancy levels in the country. However, it also has huge potential due primarily to its human capital with the second largest population in the country as well as thriving universities and colleges. Panattoni continues to develop its portfolio in the region to meet the demand”, explains Karina Trojańska.
