Panattoni has been granted financing for the development of City Logistics Warsaw IX in Targowek – one of its urban parks in Warsaw. The €10.5m loan was granted by Bank Gospodarstwa Krajowego. The c. 14,000m2 project is to be built in Warsaw’s Targowek district on ul. Utrata.
“City Logistics is a sector with huge potential that can also be seen by banks and financial institutions. These centres are modern business platforms that are designed to suit the varied operations of a wide range of tenants. These are centres for last mile operations, for courier services for manufacturing facilities and more and more often they are being used as laboratories, showrooms and R&D facilities. Such versatility attracts tenants thus allowing them to get closer to the final customer and so such centres are becoming an important component of the future industrial space market. We are glad that financial institutions, such as Bank Gospodarstwa Krajowego, want to be a part of this solution for the future,” said Karina Trojanska, the Chief Financing & Operating Officer for Poland at Panattoni.
The versatility of urban centres attracts tenants from many different industries with many different types of operations such as logistics, e-commerce, manufacturing, servicing and laboratories. This potential is demonstrated by companies such as Inter-Mlecz, which has leased 6,500m2 in the City Logistics Warsaw IX park that is currently under development. This distributor of some of the largest grocery brands is to use freezer and refrigeration facilities. The ability to develop space that could fulfil a strict temperature regime and the possibility of relocating the company’s operations from a nearby centre turned out to be the key advantages Panattoni had to offer as part of its partnership with Inter-Mlecz.