Panattoni Develops its First Logistics Project in Hungary to Tap Surging Last-Mile Demand around Budapest
Panattoni, Europe’s largest deployer of institutional capital and developer in the industrial and logistics real estate sector, has started construction of its first speculative logistics development in Hungary – a 17,300 sqm last-mile logistics warehouse in Törökbálint, about 12 kilometres from Budapest city centre. The launch of Panattoni Park Budapest City West follows the company’s market debut in Hungary at end-2021 with the acquisition of two land sites totalling 100,000 sqm near the capital.
The Panattoni Park Budapest City West project comprises four modern logistics facilities ranging in size from 3,350 sqm to 5,550 sqm as well as 20 dock levellers, 55 parking spaces and five Electric Vehicle charging points. Panattoni is targeting zero carbon emissions from 2025 and a BREEAM ‘Very Good’ sustainability certification for the property. Budapest-based Market Építő Zrt. has been selected as the general contractor of the project.
László Kemenes, Head of Panattoni Hungary, said: “We entered the Hungarian market because we see a huge opportunity to tap into the rising demand for modern, sustainable distribution centres. The local logistics real estate market is far less developed than in neighbouring countries and the last-mile segment in and around Budapest is particularly underserved. With this development, we are focusing on occupiers seeking high-quality space in smaller-sized lots, located very close to the city. Panattoni Park Budapest City West’s superior green credentials and exceptionally good location for transport connections will attract urban logistics operators targeting the large catchment area of this part of Central Europe.”
Panattoni Develops its First Logistics Project in Hungary to Tap Surging Last-Mile Demand around Budapest (panattonieurope.com)
Credits for pictures: Panattoni