Panattoni Park Warsaw to change hands
16:12
Industrial Center 37, a joint venture set up by developers Marvipol and Panattoni Europe, has signed a letter of intent with an international investment fund regarding the planned sale of the Panattoni Park Warsaw logistics center located near the Polish capital. According to Mariusz Książek, the president of the management board at Marvipol, the sale process should be completed in the first half of next year. “The Marvipol share of the revenue from the planned sale will be earmarked for investments in new warehouse and logistics projects,” Książek said.
The Panattoni Park Warsaw complex was completed in Q2 2016 and consists of two buildings, offering a total of 48,000 sqm of usable space. The logistics center is currently almost 82 percent leased out. Marvipol (through subsidiary Marvipol Estate) and Panattoni (through subsidiary PG Europe) respectively have 68 percent and 32 percent stakes in Industrial Center 37.
