Industrial developer Panattoni has obtained bank financing to start the construction of City Logistics Warsaw IX in Targówek, which is one of its urban parks in Warsaw. The company got €10.5 million from Bank Gospodarstwa Krajowego for the new development.
Warsaw is one of Panattoni’s largest urban logistics markets with close to 150,000 sqm in completed projects. Moreover, in the past five years, Panattoni has delivered 560,000 sqm in last mile centres across Poland.
“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,” said Karina Trojańska, the Chief Financing & Operating Officer for Poland at Panattoni.
City Logistics Warsaw IX in Targówek has already attracted distribution company Inter-Mlecz as tenant. The company has leased 6,500 sqm of the total warehouse space that will cover more than 14,000 sqm.
The developer has already completed City Logistics Warsaw IV in Annopol, its largest urban development with an area of almost 40,000 sqm.
Panattoni forecasts growing demand for city logistics due to nearshoring and Europe’s re-industrialization, which will create the need for additional warehouses in the market.
