Panattoni expands into Austria
Panattoni, the leading project developer for industrial and logistics real estate in Europe, establishes a new branch in the federal capital of Vienna, Austria and thereby continues its ongoing expansion and growth strategy in Europe. The Vienna office is occupied in February 2022 and is managed by Jürgen Winklbauer, an experienced project developer. Panattoni already has initial early projects in the logistics hotspots of Graz, Linz and Vienna.
With this office, the project developer is entering another dynamically growing European market. According to the international real estate service provider CBRE’s most recent report, the boom in the Austrian logistics real estate market is continuing. In 2021, new records were achieved. The 2021 total investment in the logistics real estate market amounted to about £372 million, and around 4.2 million sq ft of logistics space were completed.
The high demand for new and modern logistics areas is driven by strong growth in online retail and meets a low rate of empty industrial and logistics units. Demand exceeds the current supply of rentals, as well as investments, on the market.
For many logistics service providers, Austria’s geopolitical location in the centre of Europe and in immediate vicinity of the expanding markets in Central and Eastern Europe serves as another important and attractive factor for this location.
As Managing Director Austria, Jürgen Winklbauer will be responsible for a team of business development and project managers. Born in Austria, he not only has many years of experience in the project development of industrial and logistics real estate, but also is very well acquainted with the Austrian market due to his work at well-known Austrian family offices, as well as at one of the largest logistics service providers in Europe.
“I am sure that Panattoni’s entry into Austria will give rise to many new opportunities for the real estate and logistics sector. In doing so, we react to the strong demand for high-quality areas in logistics hot spots, such as Vienna, but also in other interesting regions of Austria,” says Jürgen Winklbauer, Managing Director Austria.
Fred-Markus Bohne, Managing Partner at Panattoni, comments on the opening of the new location as follows: “Establishing a new branch accommodates Panattoni’s growth strategy as the European market leader, as well as the importance of the Austrian logistics and economic location. Jürgen Winklbauer, the head of the new Austrian Panattoni team, comes with excellent references from his many years of work in real estate and in the logistics sector. The new team is highly accomplished and has excellent skills.”