Industrial space developer Panattoni Europe has announced the signing of a development contract for a build-to-suit project at Panattoni Park Prague-Airport, near the Czech capital.

Panattoni will construct a 11,500-m2 building, 6,500 m2 of which is already been leased to global logistics services provider DSV Road. The building will also offer space for DSV´s potential expansion or speculative space of approximately 5,000 m2.

Construction is planned to start in May 2011. Panattoni Park Prague-Airport currently consists of four buildings totaling 55,000 m2 of warehouse space, with potential for development of a further four buildings encompassing altogether 160,000 m2. Major tenants in the park are logistics services giant Ceva Logistics, Czech logistics operator AWT Čechofracht, Domo Service, Time Out, Iron Mountain and Stokvis Promi.

'As part of our strategic planning process, senior management evaluated the requirements necessary to achieve the company's long-term growth objectives,' said Petr Chocholatý, managing director of DSV Road.