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Panattoni and Kajima Properties Europe investing together in Spain

Tuesday 19 May 2020

Panattoni Europe and Kajima Properties to build their first warehousing and logistics park in Spain. The development of Panattoni Park Madrid East, with more than 28,400 sqm of floor space, will start by June 2020. 

Panattoni Park Madrid East will be developed on a plot in Torija, just at 30 minutes’ drive from the Spanish capital and right next to the A2 motorway (Madrid – Barcelona).

The project is a joint venture between Panattoni Europe – part of the Panattoni Development Company, one of the largest industrial developers in the world with 24 offices in North America and Europe –  and Kajima Properties Europe – the European real estate arm of the Kajima Corporation of Japan. Panattoni Park Madrid East will be the first real estate investment for both companies in this part of Europe.

The logistics sector in Europe is set to support a profound transformation of global supply chains, which will become more resilient with additional security stocks, as well as alternative supplies and manufacturing sources that satisfy accelerating demand for e-commerce, including grocery distribution.

According to Robert Dobrzycki, Panattoni CEO, Spain plays a crucial role in this, as one of the most important logistics markets in Europe supported by modern road infrastructure and high-capacity seaports: “This is an excellent investment in a very desirable area for logistics. Madrid, next to Barcelona, is one of the most crucial and certainly the most dynamically growing market in the Iberian Peninsula. It is also worth mentioning that with 6.6 million people, the country’s capital is one of the most populous cities in Europe” – says and explains: “In addition, some of the existing warehouse space will have to be replaced by more functional, modern ones. Also, in many Spanish cities, the demand for renting logistics space is not met yet”.

Spain’s demographics and early stage e-commerce growth make it an ideal development opportunity, according to John Harcourt, Kajima Properties’ MD. “We are excited to support Panattoni’s entry into the Spanish market. Given the extremely promising market dynamics and potential, we look forward to yet another successful partnership. Spain is a new territory for both of us and we are proud to support Panattoni as we both expand our European businesses.”

The Panattoni Park Madrid East will have more than 28,400 sqm of space. It will be suitable for warehousing and logistics operations. It will have 28 docks and more than 140 parking spaces. The park has the BREEAM sustainable construction certificate.