Panattoni Europe is planning to invest €1.2bn in City Logistics projects across Europe over the next three years. Panattoni already has four such parks, valued at €65m, under development in Poland. City Logistics Warsaw, featuring 26,000 sqm, already secured its first tenant, the online supermarket Frisco.pl. The developer is also developing City Logistics Wrocław I, Łódź I and Warsaw Airport, which have an occupancy rate currently in the range of 60 percent. Over the next three years, the developer is planning to bring this concept to Germany, the UK and the Czech Republic. The industrial developer targets sites on the outskirts of city centers for its City Logistics parks.
“By the end of this year, we will have delivered approximately 150,000 sqm in City Logistics Parks, focusing on the Polish market. We are planning to expand our portfolio to include in-city facilities in Germany, the UK and the Czech Republic in early 2019, and we will be allocating €400m every year to these projects,” said Robert Dobrzycki, CEO of Panattoni Europe.
