Panattoni, Europe’s largest deployer of institutional capital and developer in the industrial and logistics real estate sector, has completed the biggest zoned land deal ever done in the Swedish market with the SEK 3.1 billion (c. €300 million) acquisition of seven sites totalling 121.3 ha in the region of Stockholm and Skåne. The vendor was Kilenkrysset, a Swedish family-owned real estate owner and developer.
The land has the zoning permits and potential to develop 661,450 sq m of logistics gross lettable area (GLA), for an estimated total investment of more than SEK 10 billion (circa €1.0 billion).
Fredrik Jagersjö Rosell, managing director Panattoni Sweden, said: ”The prime development land Panattoni acquired from Kilenkrysset sits in the heart of Sweden’s Golden Triangle concentration of warehousing and distribution hubs in the southern regions framed by the cities of Stockholm, Gothenburg and Malmö. The Golden Triangle accounts for 80% of the country’s business and population, its most important ports, largest airports and main transport routes. With high demand for logistics space still outpacing record supply in the Swedish market last year and vacancy rates at very low levels, we’re confident that our forthcoming developments will tap into the strong appetite of occupiers for modern sustainable warehousing.”
