Panattoni invests €120m in Spain and Portugal

Panattoni is investing €120 mln in four projects in Portugal and Spain, where it has acquired over 2.3 million m2 and constructed over 550,000 m2 of space in the last five years.

Gustavo Cardozo

Currently, Panattoni has four projects under construction, totaling 125,618 m2, including Panattoni Park Santarém and Lisbon-City in Portugal, and Panattoni Park Antequera and Vitoria-Gasteiz II in Spain.
Panattoni also has a strong land portfolio capable of supporting the development of an additional 416,000 m2 in key locations across Spain. These include Alcantarilla (Murcia), Alzira (Valencia), Arasur (Álava), Girona, Illescas (Toledo), Meco, Miranda de Ebro, Torija (Guadalajara), and the Zaragoza Empresarium industrial estate.
By the end of 2024, Panattoni has added 176,200 m2 of new logistics space, notably including expansions in Illescas and La Bisbal del Penedès. In these locations, the total area has grown significantly from 40,000 to 147,000 m2, encompassing three warehouses that house tenants like Naeko Logistics, GXO, and CEVA Logistics.
Panattoni also leased a substantial 160,000 m2 throughout 2024 in its logistics parks situated in Lisbon, Madrid, Porto, the Basque Country, and Tarragona. The company's 31 completed projects have garnered over €1.4 bn in equity from 10 European and US institutional investors.
Gustavo Cardozo, managing director of Panattoni Iberia, commented: “In these first five years on the Iberian Peninsula, Panattoni has exceeded initial expectations, confirming solid growth with more than 550,000 m² developed. Our strategy allows us to be present in new logistics hubs such as Miranda de Ebro, Vitoria, Porto, and Lisbon, but in this short period of time, we have also been able to stand by our clients in less favorable market circumstances globally. We have demonstrated resilience in the face of complex scenarios and are experts at managing the complicated.”
Panattoni foresees increased demand for logistics space over the next 18 months in all markets. The company is also investing in new business areas like data centers, both across Europe and specifically in the Iberian Peninsula. It recently secured a construction permit for the first phase of Panattoni's 42 MW data center in Cerdanyola del Vallès, set to become the largest data center in Catalonia.