US industrial developer Panattoni establishes local subsidiary in Lithuania

VILNIUS - Panattoni, the US-based international industrial real estate developer, has established a local subsidiary.

According to Lithuania’s Center of Registers, the company was founded by Luxembourg-based PG Europe, an entity linked to the Panattoni group. The firm, Panattoni Lithuania Development, was registered in Vilnius on Wednesday and is headed by US citizen Mark Connor.

Connor said he would comment on the company’s specific plans at a later date.

Panattoni Development Company, along with its European and Canadian divisions, is among the world’s largest real estate developers, operating through 69 offices across the United States, Canada, and Europe, according to its website.

Another group entity, Panattoni Development Europe, announced in September 2024 that it was expanding into the Baltic states with a primary focus on Lithuania. At the time, the company said operations would be coordinated from its central office in Warsaw, with plans to establish a local office in the future.