Panattoni has sold its strategic Wroclaw Campus project in southwest Poland to P3 Logistic Parks. The project totals 185,000 sqm. The price has not been disclosed.
Robert Dobrzycki CEO & Co-Owner of Panattoni Europe, UK and India, said: “Panattoni is the largest deployer of institutional capital in industrial and logistics assets in Europe, averaging around €7 billion a year. The sale of our Wrocław logistics park to P3 demonstrates the sustained strong institutional investor appetite for industrial and logistics real estate. In Poland, new development supply continues to lag in meeting the need for space from industrial and e-commerce companies and the growing nearshoring trend.”
Wrocław Campus has a ‘BREEAM Excellent’ sustainability certification. Tenants include ID Logistics, Korean logistics operator Unico Logistics, GEIS, LX Pantos and automotive cable manufacturer Leoni. Currently, the number of workplaces provided within the investment account for ca. 600 employees.
The Panattoni Wrocław Campus comprises four buildings with a total of 185,000 sqm of space. The park has a 10-metre-high clearance and comprises a five-tonne rack leg loading capacity, 319 dock levellers, 949 car and 67 truck parking spaces. The potential expansion includes two additional buildings of 160,000 sqm suited for warehousing and light industrial functions. The region is already home to Europe’s largest producer of lithium-ion vehicle batteries for electric vehicles operated by Korean conglomerate LG (LGES Wrocław). The LG gigafactory will place Poland in third place in the projected rapid expansion of Europe’s electric vehicle battery production capacity out to 2031, after Germany and Hungary.
Wrocław Campus is situated in one of the most established logistics zones in CEE and Western Europe stretching from Szczecin in the north of Poland to the Czech Republic, Slovakia, and Hungary in the south with more than 350 logistics parks comprising 20 million sqm. The site has direct access to the A4 and A8 motorways connecting major European markets such as Germany and Austria with a customer base of more than 100 million people. Wroclaw’s international airport is just 15 minutes away by car. The surrounding region has a population of 2.9 million while the city itself has 650,000 people.
Panattoni was advised in the transaction process by DLA Piper. P3 Logistic Parks was advised in the transaction process by Greenberg Traurig, Gleeds, Cushman & Wakefield, and Delta Simons, PwC Poland.
