Norton Rose Fulbright advises Panattoni on leasing of nearly 90,000 sqm for BestSecret

Global law firm Norton Rose Fulbright has advised Panattoni on leasing of 88,500 sqm for BestSecret, a leading European members-only online destination for off-price fashion.

BestSecret has leased 88,500 sqm with the option of expanding by further 42,000 sqm and will make use of 40,000 sqm of mezzanine and office space within the building with the office space accounting over 10,500 sqm. With this project, BestSecret increases the size of its fulfilment centre network to further support its dynamic business growth.

The development will be BREEAM (Building Research Establishment Environmental Assessment Method) certified at the “Excellent” level.

The Warsaw team negotiated the built-to-suit lease agreement based on which Panattoni is developing the logistic hub and is continuing to provide legal advisory regarding the construction process.

Magdalena Zienkiewicz, the Warsaw-based partner who led this transaction, commented: 

“Western Poland demonstrates its potential as a centre for the clothing industry and a major hub for Western Europe. We are proud that, as a law firm, we are part of it. Last year, we advised on construction of a 61,135 sqm distribution center in Sulechów for TK Maxx and this year on construction of over 150,000 sqm for the first logistics hub for Hermes Fulfilment in Iłowa.” 

Panattoni, one of the key clients of Norton Rose Fulbright in Poland, is an industrial property market leader in Europe and an industrial space developer whose goal is to support local business by providing multi-functional build-to-suit warehouse facilities. 

BestSecret is a leading European members-only online destination for off-price fashion based in Germany and supplies goods to 27 countries across Europe.

Along with Magdalena Zienkiewicz, the transaction team included senior associate Patrycja Pakla from Warsaw’s real estate and construction team.