North American Panattoni Enters Portuguese Market with Two Logistics Projects 

The North American developer Panattoni is looking to develop two logistics projects in the area around Lisbon.

Specialised in projects in the logistics area, Panattoni began operations on the Iberian Peninsula last year, after acquiring approximately 100,000 square metres of land in Spain, where it has already started developing projects worth 100 million euros.

Currently, the company has six projects in the construction and development phase. The investments include 15 million euros in the 28,400-m2 Panattoni Park Madrid Este, which will be occupied entirely by Leroy Merlin in the second half of this year. It also has a 9,000 m2 project in Cadiz, in which it has invested 18 million, and another in Zaragoza covering 9,200 m2 in a 20-million-euro investment.

The North American company is also negotiating to acquire land for six other projects in Madrid, Zaragoza, Seville, Barcelona and Lisbon, where it wants to build two logistics parks.

Gustavo Cardozo, Panattoni’s general director for Spain and Portugal, told EjePrime that the company aims to reach around 500,000 square metres in the Iberian Peninsula within two years. “These are longer-term, risky projects, but we believe they are necessary given the great demand,” he said.

Based in California, Panattoni entered the European market 15 years ago and has offices in Germany, the Netherlands, Luxembourg, Slovakia, Spain, Poland, the United Kingdom, and the Czech Republic. Since then, it has developed projects in Europe with a surface area totalling more than 10.5 million square metres.