Panattoni Europe, a leading industrial space developer in Poland, has been chosen by Pramerica Real Estate Investor to be the property manager for the Stolica Business Center near Warsaw. The developer will also be responsible for the commercialization of the distribution center. Pramerica is the European arm of the real estate investment and management business of Prudential Financial, Inc. (NYSE:PRU), which is headquartered in the United States.
Panattoni Europe has become the manager of a 24,600 m² investment, Stolica Business Center, a modern distribution center 95% leased to three tenants. The investment comprises three buildings; totalling 5,000 m²; 6,500 m² and nearly 13,000 m². The largest tenant is United Parcel Service (UPS) which has its national distribution center at the property.
Panattoni Europe develops high-standard industrial space; what's more property and asset manages not only the existing facilities from its own portfolio, but also external real estate.
"Cooperation with Pramerica Real Estate Investor reinforces the comprehensive nature of our market offer, as a developer, manager, and also adviser, especially in issues related to property leasing. We are very pleased to have been selected by Pramerica as partner of yet another project; it also serves as proof of the quality of our service both in Poland and the Czech Republic," said Robert Dobrzycki, Managing Partner for Panattoni Europe in CEE.