Panattoni has begun developing the first 30,000m2 phase at its logistics park in Orleans, of which a third has been pre-let to ID Logistics.
The development, called Panattoni Park Orleans, comprises the regeneration of a brownfield site into two modern, eco-sustainable buildings, totalling 60,000m2.
The first phase involves ID Logistics, already a tenant on the site, transferring into the new 30,000m2 building, which is scheduled for completion in the first quarter of 2025. ID Logistics has signed a nine-year lease for 10,000m2 of space, where it will operate its warehousing and distribution activities for beauty and home care products. The remaining space will be divided into three units for rent.
Once ID Logistics has moved into its new facility, its building will be demolished to allow construction of the second 30,000m2 facility.
The general contractor is IDEC. The development has been financed by a €45m loan from Arkea Banque Entreprises et Institutionnels.
Panattoni Park Orleans is located in Ormes within Pole 45, an industrial and logistics zone 11 kilometres northwest of Orléans, benefiting from immediate access to the A10 and A71 motorways.
As part of its environmental strategy, "Go Earthwise with Panattoni", Panattoni will reuse and recycle all the materials generated by the demolition. Together with its partner IDEC, Panattoni will construct the facilities using laminated timber beams with roof rainwater recovery tanks, photovoltaic roof panels and dimmable LED lighting with presence detection, leading to a BREEAM sustainability rating of “Excellent”. A biodiversity initiative has also been launched with the CIBI association in accordance with the BiodiverCity® guidelines. There are also plans to create open green spaces, covering 30% of the site, to preserve the biodiversity of flora and fauna, limit soil artificialisation and improve water management.
Salvi Cals, Managing Director of Panattoni France, said: “This class A building has an excellent location in the Orléans market. It is the only recent, modern and eco-sustainable logistics platform in the Pôle 45 business and logistics park. The fact that we've started work on the first building and signed a lease with such an emblematic customer as ID Logistics confirms our choice of location and our strategy of redeveloping sites that have already been developed.”
Pascal Gomes, Managing Director of IDEC, said: “The launch of construction of this new operation in Ormes (45) marks a new stage in the collaboration between the Panattoni France and IDEC teams. Following on from our first successful project near Troyes (01), which was certified BREEAM Level Very Good, we are raising our joint standards to make this project an example in environmental terms.”
Tanguy Mejat, Specialised Financing, and Allan Plantrose, Real Estate Market Division, at Arkéa Banque Entreprises et Institutionnels, said: "We are very pleased to support Panattoni in financing the construction of a platform that will meet the logistics needs of a large number of companies. This underwritten transaction is currently being syndicated. It demonstrates the bank's expertise in real estate structured finance. The future buildings are expected to be BREEAM certified to an excellent standard, which would lead to a financial bonus in line with our commitment to ESG."
Panattoni was advised by Julia-Barbara Michalon (Gibson Dunn), Soizic Pérignon (Noter), and Anne-Laure Lavoine (Lasaygues) advised Arkea Bank.
Image provided by TAVISTOCK.
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