ABB has sold real estate in Łódź for Panattoni’s City Logistics

A leading global technology company, ABB, has finalized selling industrial and warehouse properties located in Łódź at Lodowa Street with the warehouse space developer Panattoni Europe. The amount of real estate sales transactions are confidential. The advisory agency Corees Polska coordinated the closing of the trial.

ABB is a leading global technology company that drives the transformation of economies and societies, building their future efficiently and sustainably. Integrating electrification, robotics, automation, and drive systems products with digital solutions sets new technology standards. The company employs approximately 110 thousand employees in over 100 countries. ABB conducts a full range of business activities in Poland, hiring more than 5,000 people.

– At ABB, such transactions do not happen often. Despite the ongoing pandemic, we closed the sale on conditions satisfactory for all parties, adhering to the schedule despite the short time provided for the entire transaction. I would also like to emphasize the excellent cooperation with both parties, the broker and the buyer – says Janusz Machnicki, Real Estate Director at Hub Polska, ABB Sp. z o.o.

Panattoni is the leader in industrial space in Poland and Europe. So far, it has completed projects totalling over 14 million square metres. These are both multifunctional warehouse buildings as well as production and warehouse facilities built in the BTS formula and strictly adjusted to the needs of the tenants. For its investments, Panattoni secures land in the most strategic locations.

Such is the location of the purchased ABB property at Lodowa Street in Łódź, one of the largest logistics hubs in the country. It is well known to us because as many as six other of our facilities exist nearby or are under construction. Now, in place of the former ABB factory, a modern facility will be built, implementing the principles of circular economy and sustainable development. The brownfield investment will bring the old industrial fabric of the city back to life. It will also provide the future employees with an efficient and fast connection to the city centre and residential areas – says Katarzyna Kujawiak, Development Director, Panattoni.

– The process, the finalization of which we had the pleasure to coordinate, is a perfect example of effective negotiations that take place in a pleasant and warm atmosphere. And I must admit that I personally like this type of project very much. Congratulations to both the selling side, and the buyer. – sum up Marek Ciunowicz, CEO at Corees Polska.