P3’s Panattoni deal is fifth Sth Poland purchase in 12 months

P3 Logistic Parks has acquired Campus 39 business park in Wroclaw, southwest Poland, from industrial developer, Panattoni.

The deal is P3’s fifth in southern Poland in the past 12 months.

Campus 39, re-named P3 Wrocław II, consists of four warehousing and light industrial buildings, with a total area of 185,000 sq m.

The park has a BREEAM Excellent rating which aligns with P3’s environmental ambitions, the company said in a statement.

“We get 2023 off to a good start with this attractive acquisition, our fifth in southern Poland in the past 12 months,” said P3 Logistic Parks in Poland’s managing director Bartłomiej Hofman. “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.”

He added that P3’s strategy in Poland remains focused on identifying attractive development and investment opportunities to supplement the company’s growing portfolio.

“We believe 2023 may feature similar deals by companies like P3, which are capable of accessing such opportunities,” Hofman added.

Robert Dobrzycki CEO & Co-Owner Panattoni Europe, UK, and India said the sale 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.”

P3 was advised by Greenberg Traurig, Gleeds, Cushman & Wakefield, and Delta Simons, PwC Poland.

Panattoni was advised in the transaction process by DLA Piper.