Panattoni and Marvipol secured a buyer for their first JV development: Panattoni Park Warsaw, a two-building warehouse and logistics complex. The JV, Industrial Center 37, has already signed a preliminary agreement with an undisclosed investment fund.
Located on the outskirts of Warsaw, near the Konotopa hub linking the A2 motorway with the capital’s ring road, the 48,000 sqm complex was delivered in the second quarter of 2016, about a year after the JV formed. The property is nearly 82 percent leased.
The Warsaw Stock Exchange’s Marvipol is a majority stakeholder in Industrial Center 37, with Panattoni and PG Europe holding the remaining stakes.
