Panattoni have sold two warehouse facilities in Lodz to a partnership between Kajima Properties Europe and Savills Investment Management on behalf of its Asian client. The halls, with a total area of almost 145,000m², were built as part of the Central European Logistics Hub. The two modern class A warehouses are both fully leased. The purchase price was not disclosed.
“Their location in central Poland, at the intersection of major logistics routes, is undoubtedly to their advantage. The warehouses form part of the Central European Logistics Hub that we are building, the largest logistics centre on the continent with a target area of 600,000m². So far, we have completed 370,000m², with more under construction," said Robert Dobrzycki, CEO of Panattoni. “Polish warehouse and industrial facilities in attractive locations are becoming increasingly attractive to international investors, including those from Asia. The warehouse market has not only shown resilience to the economic impact of the coronavirus pandemic but, on the contrary, has even benefitted from it, due to the rapid growth of the e-commerce sector.”
“Investors are aware of this market’s healthy prospects, hence their growing interest in portfolio diversification into the logistics services sector. I am glad that we could support our client in this. With this transaction, the value of our assets under management in Poland now exceeds €1.5bn," commented Jon Crossfield, Head of Strategic Partnerships, Savills Investment Management.
The Central European Logistics Hub is situated on ul. Jedrzejowska in the eastern part of Lodz, just off the A1 (north–south) motorway. It lies just 30 km from the motorway’s junction with the A2. Due to its location at the intersection of these major European logistics routes, it is ideal not only for domestic but also for international distribution. In addition to this, the location of the complex within the city limits allows employees to quickly and easily commute to work.