Panattoni has secured another major lease for its new project, Panattoni Park Wrocław XIII. LX Pantos, one of the largest logistics operators in Korea and Southeast Asia, will occupy as much as 43,500 sqm in the new park – more than three times as much as it originally planned. This is not the first time the two companies have worked together, but with this latest agreement, the space leased by the Korean company in Panattoni’s Lower Silesian facilities will exceed 100,000 sqm.
LX Pantos is the undisputed leader in its field on the Korean market and one of the largest logistics operators in the Asia-Pacific region. The company is now expanding its operations in Poland by choosing Panattoni once again. The company has again opted for the developer’s Lower Silesian portfolio, leasing, not 13,500 sqm, as it initially planned, but as much as 43,500 sqm. Thus, it has become the largest tenant of Panattoni Park Wrocław XIII. The choice of this location was by no means accidental.
“Lower Silesia and its capital (Wrocław) are now recognised as an innovative economic region and one that Korean investors are particularly attracted to. The country is currently the largest Asian investor in the country. The total value of Korean foreign direct investments in Poland already exceeds €3 billion. Korean capital is currently investing heavily in the region, primarily in the fields of electromobility, electronics, automotive parts production and the chemical industry. In the immediate area of Panattoni Park Wrocław XIII you can find, among others, LG Energy Solutions – one of the world’s largest producers of lithium-ion automotive batteries, as well as LG Electronics – one of the global leaders in the electronics market,” explains Damian Kowalczyk, the Development Director of Panattoni.
“Our new warehouse in Panattoni Park Wrocław XIII shows how fast the market is growing. Two years ago, when together with Panattoni we opened 72,000 sqm in one of the developer’s parks in Wrocław, this space was meant to be enough for us in the long term. After a year, it turned out that it wasn’t and that we had to undergo further significant expansion. The sales of consumer electronics were growing on average by 20 percent year-on-year, while the electromobility market had become completely unpredictable. Problems with the supply of semiconductors have been affecting the entire supply chain, which in our case has resulted in the accumulation of production materials in ports and warehouses. I think this situation is not over yet and we will return to further negotiations with Panattoni next year,” comments Piotr Zienkiewicz, a Senior Logistics Manager at LX Pantos Poland.
Panattoni Park Wrocław XIII will eventually comprise two buildings with a total area of 75,000 sqm. More than half of the planned space has already been delivered, with the entire project due to be completed in mid-2022. All the buildings will be BREEAM certified and powered by green energy. The park will include vehicle charging stations, bicycle stands, green areas and invertebrate houses.
