Panattoni, a leading industrial and logistic development and investment fund in both European and North American markets, announced its first expansion project for Portugal. The company, which specialized in logistics projects, entered the national territory by acquiring about 150,000m2 of land in the Campo Valongo industrial complex, district of Porto.
This new logistics park results from a journey carried out with the Castro Group and advised by Savills Portugal. Castro Group was responsible for monitoring the various stages of the business over the last few months, which began with procurement, design and project management, and licensing.
The agreement with Castro Group facilitated Panattoni’s entry into the Portuguese market with a speculative development of a modern logistics park set to house two buildings of 27,000 and 47,000 sqm respectively. Panattoni has started the year giving continuity to the significant volume of projects announced and underdevelopment in the Iberian Peninsula. An investment commitment that now extends to Portugal, with a readiness to optimize the offer of solutions and existing properties in the Portuguese market.
“We are proud to announce our arrival into the Portuguese market after reaching the agreement with Castro Group. The Portuguese market offers excellent conditions to invest in our sector and grow hand in hand with local and international companies operating in this country. Panattoni Park Porto is the beginning of a clear commitment to continue growing in the different markets of the Iberian Peninsula with a strong focus in Portugal,” said Gustavo Cardozo, Panattoni’s Managing Director for Spain and Portugal.
The new ‘Panattoni Park Porto’ will offer the most modern, efficient and sustainable logistics buildings in the Portuguese markets at very competitive rental prices, providing comprehensive solutions for the industrial or logistics sector in the north of Portugal.
According to Paulo Castro, CEO of Castro Group, “It is a historic milestone for the Group to participate in the expansion of Panattoni in Portugal. We believe that the success of this project is proof of the current importance of the logistics sector in the Iberian Peninsula, driven by several factors, particularly the growth of e-commerce and the readjustment of logistics chains. The recognition of our expertise in this sector is very gratifying! Which has allowed us to accompany Panattoni in the initial phases of their project and consolidate its presence as a logistical reference in Portugal”.
Its 75,000 sqm area will be able to accommodate customized logistics or cross-docking platforms in modules starting at 12,500 sqm. The park has direct access to the A41 highway and is located 2 km away from the A4. The project has a direct connection to the Porto downtown, just 25 minutes away, and provides a strategic location for all types of companies requiring proximity to the city and last-mile service, as well as to major highways.
The development will have a potential leasable area for offices of up to 2,500 sqm, while the buildings will have a minimum clear height of 11,50 m, sprinklers and a floor slab overload estimated at 6 tons per sqm. There will also be a parking lot with a capacity for 300 vehicles and up to 150 loading docks. In addition, there will be bicycle parking facilities.
In line with ‘Go Earthwise with Panattoni’ philosophy, the project will have the BREEAM ‘Very Good’ sustainable construction certificate, which guarantees compliance with the highest sustainability standards. A photovoltaic plant will also be installed, as well as a low-consumption LED lighting system and electric chargers to supply the electric vehicles used for last-mile deliveries with clean energy.
José Manuel Ribeiro, Mayor of Valongo, points out: “It’s another significant investment that we managed to attract to our municipality. We believe that an investment of over 50 million euros in the last generation logistics park and with a leading international partner such as Panattoni brings more opportunities for the local business fabric and creates more jobs. We recently completed an urbanization plan in Campo’s industrial and business area, where this project will be implemented, which will help to regulate and lower the commercial values of land, so that more investment, more employment opportunities, and more hope for all our citizens.”
Paulo Esteves Ferreira, City Councilor of Valongo, responsible for municipal works, private works, mobility and community funding, says: “Entrepreneurs are looking for strategic locations for their investments, but the strategy is not just about numbers. To attract an investment of this size, which will translate into the largest logistics park in the north of the country, the best we can offer, in addition to the reduction in fees and an excellent location, is a transparent service in a clear language, and in the commitment of the agreed terms for the licensing.”
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