Panattoni confirms its second investment in Portugal

Panattoni confirms its second investment in Portugal
Panattoni Lisbon City

Panattoni, a leader in logistics promotion in North America, Europe and Asia, has just announced its second investment in Portugal. Without revealing the amount involved, the company will invest in the rehabilitation and development of four logistics buildings with a gross lettable area (GLA) of 85.000 sqm, in what will be the largest brownfield project in the Lisbon region.

Destined for the rental market, Panattoni Park Lisbon-City will be developed on the site of the former Covina glass factory in Loures. With an area of 137,0160 sqm, the site was acquired by Panattoni from Saint-Gobain, with legal advice from Abreu Advogados in this operation.

"We are very pleased to announce our expansion into the Portuguese market. Portugal offers excellent conditions for investment in our sector and for growing alongside local and international companies operating in this market. Panattoni Park Lisbon City proves our commitment to continuing to grow in different markets in the Iberian Peninsula, which has had a strong focus on Portugal in recent years," says Gustavo Cardozo, Panattoni's Managing Director for Spain and Portugal.

Contemplating both new construction and the conversion of existing buildings, the complex will be developed in two phases. The first should be completed in the third quarter of 2023, and the second phase is expected to start soon afterwards.

With a GLA of 85,000 sqm, Panattoni Park Lisbon City will have the capacity to accommodate four logistics warehouses, one of which will have 8.859 sqm in cross-dock format for a single-tenant, and the remaining three with 29,142 sqm, 18,119 sqm and 27,390 sqm. According to Panattoni, flexibility is one of the characteristics of these buildings, which can be divided into smaller units, starting at 5,400 sqm (with 10 loading and unloading bays each), so that they can be occupied by several tenants. The warehouses will have a minimum ceiling height of 10.5 meters, a fire risk level of 2, sprinklers and a slab overload of 6 T/sqm.

The park will also be served by a 5,000 sqm office area and 122 loading and unloading bays, distributed among the four buildings, as well as parking with capacity for more than 300 vehicles and with electric chargers. Each of the warehouses has its own parking area for cars and heavy goods vehicles, as well as a bicycle park.

The development of sustainable projects is one of Panattoni's flags today, and it will be raised high here, starting with the fact that this is a "brownfield" project, i.e. it aims to give a new lease of life to assets and spaces that have been idle, and their reuse contributes to environmental conservation, says the company.

The recovery of land and the redevelopment of unused areas is one of the aspects of responsible land management for the member states of the European Union and an integral part of their sustainable development policies. We rehabilitate spaces back to their original purpose, while at the same time developing a range of activities to conserve the environment and local ecosystems. In this way, we contribute to reducing CO2 emissions, creating jobs and improving the quality of life of local communities," says Piotr Kociolek, Panattoni's Environmental Director.

Developed in accordance with the sustainability strategy "Go Earthwise with Panattoni", the project will have the BREEAM "Excellent" sustainable construction certification. A photovoltaic plant will also be installed, as well as an energy-efficient LED lighting system and green areas, so as to turn the logistics park into a pleasant space. The company also says that the solutions implemented will enable a 30% reduction in the carbon footprint of the buildings.

This project comes two years after Panattoni's entry into our country, which took place in 2022 with the acquisition of a 150,000 sqm plot of land in Campo, Valongo, in the district of Porto, and whose first phase of development (27,000 sqm) should be completed in the second half of this year.

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