P3 Logistic Parks acquires Panattoni’s Campus 39 park in Wroclaw

P3 Logistic Parks has closed a deal to acquire the Campus 39 business park in Wroclaw, southwest Poland, from the industrial developer, Panattoni. This marks the fifth acquisition P3 has completed in southern Poland in the past 12 months.

The Campus 39 project, re-named P3 Wrocław II, consists of four buildings, covering a total area of 185,000 sqm, adapted to the needs of the warehousing and light industry. The park offers easy access to the A4 motorway, connecting Berlin to Kraków and Ukraine via Wrocław and Upper Silesia, and the S8 expressway, which guarantees good access to the capital of Lower Silesia via the A1 and A2 motorways.

In line with P3’s environmental ambitions, the park has achieved a BREEAM sustainability rating of “Excellent”.

Bartłomiej Hofman, Managing Director, P3 Logistic Parks in Poland, said: “We get 2023 off to a good start with this attractive acquisition, our fifth in southern Poland in the past 12 months. P3 Wrocław II is ideally located in southwestern Poland, with good access to crucial infrastructure, a pool of available labour, and large-scale manufacturers in the region. P3’s strategy in Poland remains focused on identifying attractive development and investment opportunities to supplement our growing portfolio of high-quality assets across the country. We believe 2023 may feature similar deals by companies like P3, which are capable of accessing such opportunities”.

Robert Dobrzycki CEO & Co-Owner of Panattoni Europe, UK, and India said: “Panattoni is the largest deployer of institutional capital in industrial and logistics assets in Europe, averaging around €7 billion a year. The sale of our Wroclaw logistics park to P3 demonstrates the sustained strong institutional investor appetite for industrial and logistics real estate. In Poland, new development supply continues to lag in meeting the need for space from industrial and e-commerce companies and the growing nearshoring trend”.

Michał Skiba, Investment Manager, P3 Logistic Parks in Poland, said: “We are very satisfied with this transaction, as it concerns a high-quality facility of huge potential. The park we have purchased offers a perfect location in one of the top sites of the Polish warehouse market, being especially attractive to tenants. We are convinced this is the right investment since it fits perfectly into the development plans of P3 Logistic Parks in Poland”.

P3 Logistic Parks was advised in the transaction process by Greenberg Traurig, Gleeds, Cushman & Wakefield, and Delta-Simons, PwC Poland.

Panattoni was advised in the transaction process by DLA Piper.