In the first deal, at P3 Weiterstadt park, MOL Logistics (Germany) GmbH has extended its lease for five years. In the second, the largest grocery discount store chain in Germany has moved into a warehouse at P3 Mörfelden park.
MOL Logistics has occupied 2,500 m² warehouse space and 650 m² of offices at P3 Weiterstadt park, close to the Luxembourg border, for the last three years. It has now signed up for another five. A subsidiary of the Japanese group Mitsui O.S.K. Lines, (MOL) performs transport and customised logistics operations worldwide. Value-added services include pre-assembly for the electronics industry. As part of the deal to extend the lease, MOL and P3 have jointly invested in a new cleanroom with antistatic equipment.
At the 37,500 m² Mörfelden park near Frankfurt, P3 has recently agreed to lease 4,640 m² of logistics space and 180 m² of offices to a grocery discount chain that is expanding its existing logistics capacities nearby on the Hessenring.
JLL acted for the tenant in Mörfelden and advised on the MOL lease.
Jürgen Diehl, Managing Director of P3 Germany, says: "Our customers appreciate P3´s depth of understanding of logistics processes and our willingness to invest with them in existing properties. This ensures we are able to develop long-term customer relationships and, as a result, we have achieved 100% occupancy in our German portfolio. This, in turn, now allows us to focus more on BTS projects."