The completed facility will increase P3’s German portfolio by 18 % to a total lettable area of 362,962 m². The new park, which will be named P3 Gottfrieding, brings the total number of parks in Germany to 10. It will also be the second park, together with P3 Hallbergmoos, in the northern part of Munich.
Located right in the Central and Eastern Europe trade corridor, the new distribution centre will offer its customers easy access across the prosperous region of south east Germany with direct routes to the Czech Republic, Hungary and Slovakia.
Jürgen Diehl, Managing Director for P3 in Germany said:
"This acquisition marks our commitment to continued expansion in Western Europe. We are looking forward to delivering a high quality logistic facility and extending our current portfolio, which consists of rentable assets, to new customers. Since 2011 we have seen continued high demand for industrial and logistics space in Lower Bavaria and due to the stable financial conditions in the market, we are optimistic about the future.
“By spring 2017 we will be able to offer companies a winning formula at P3 Gottfrieding; a sustainable logistics facility located in a strategic location, with direct access to the motorway in this prosperous region."
The park is situated in Dingolfing-Landau with direct connection to the A92 motorway, which links Munich with Deggendorf. Munich Airport is only 45 minutes away and the Czech border connecting to the D5 to Prague is less than 60 minutes away.
Realogis, Germany's leading consultancy for logistics, industrial and business properties, managed the sale of the property. The seller was ISARKIES GmbH & Co. P3 will begin the first of two construction phases in late summer 2016.