Milan, 23 November 2022 – P3 Parks completed numerous projects during 2022, has a series of developments in the pipeline and construction work is underway in the districts of SALA Bolognese and Altedo (BO) (BO), and a major redevelopment operation for sustainability.
The long-term developer, investor, owner and manager of high-quality logistics properties has consolidated and improved its presence in the Italian market.
The Italian portfolio of P3 increased to 670,000 m2 this year, a net rise of more than 60%, with an occupancy rate of almost 100% and new developments planned which total over 260,000 m2. P3 has successfully completed several transactions with leading brands, confirming both its ability to identify the best opportunities for acquisitions and development, and the great spirit of collaboration that has always characterized the company in its relations with tenants and the communities in which the sites are located.
In June, P3 completed work on the new AMAZON distribution centre in Ardea, located near Rome, developing a 46,500 m² facility on a 118,879 m² site for the online retailer, featuring sustainable technology including solar panels and energy-saving systems.
Also for AMAZON, P3 has constructed the largest distribution centre in central and southern Italy, in San Salvo, near the city of Chieti, which has been operational since October. The company developed the 190,000 m2 G+3 multi-storey warehouse according to the most innovative developments in sustainability. In addition to the design and construction, P3 Parks was entrusted with implementing all phases of the land planning, authorisation and legal processes, from the start.
P3 continues to maintain a high level of occupancy of its properties and last September completed a new entrance at the Logistics Park of P3 Brignano, where since the end of August the VITTORIA Group, a leader in the design and production of road and mountain-bike tyres, has been operating. In Altedo and Sala Bolognese, two speculative projects got underway, consolidating the company's presence in the most important logistics hub in the Centre North region of Italy. Meanwhile, at the P3 Park in P3 Sala Bolognese, work has begun on the construction of warehouses of up to 20,000 m2, equipped with modern, customisable offices and with opportunities for future expansion.
Elsewhere, construction work is underway in San Pietro, Casale, in the district of ALTEDO (BO). It comprises 100,000 m2 and the former AIE sugar refinery will be demolished in a disused area undergoing major redevelopment. Two new logistics warehouses of over 100,000 m2 will be built for this development, which represents a significant green operation, in which sustainability also invests in the social environment. In fact, a series of measures are planned to strengthen the leading environmentally friendly transport systems and to achieve the 'Green Logistics' certification, as envisaged by the Urban Plan for Sustainable Mobility. This is being achieved through a significant increase in the use of 'soft' mobility between the Logistics Hub and the SFM station of San Pietro in Casale, with the provision of a fleet of bicycles, including electric ones, the construction of related charging stations, and the activation of a dedicated bus line.
P3 has also adopted innovative solutions for sustainability in the building sector, including reducing the increase in polluting emissions through an urban reforestation program with high carbon absorption, energy efficiency of building volumes with almost zero energy consumption and clean energy production, optimization of the natural and artificial lighting system and containment of light pollution, installation of photovoltaic panels and water systems using recycled rainwater.
NEW DEALS:
An important acquisition in Calvenzano (BG) has just taken place, which strategically strengthens P3's presence in the East Milan area, where P3 has been active since 2016 with the P3 Logistics Park Brignano. The project envisages the construction of a logistics warehouse of 24,300 m2 that can be subdivided with dedicated office space, a height under beam of 12 metres and 24 loading bays.
The location is part of a consolidated area, in which important logistic companies are already established, and is located in a strategic position, just six minutes from the BreBeMi motorway tollbooths of Caravaggio and Treviglio and 12 minutes from the junction with the A58 "Tangenziale Est Esterna di Milano", which connects the A4 and A1 motorways, allowing access to the entire Milan Metropolitan Area in 30 minutes.
Livorno is the first project for P3 in Tuscany, where at the Interporto di Collesalvetti-Guasticce a 133,000 m2 plot of land has been acquired for the construction of a logistics warehouse ideal for single or multiple tenants within a gross leasable area (GLA) of 71,000 m2. The area was sold by Interporto Amerigo Vespucci of Livorno and the company Le Ninfee Srl, and P3 has already obtained the building permits for the construction work, which will begin in the coming weeks.
Like all new buildings, this asset will also obtain the BREEAM ‘Excellent’ certification, thanks to planned interventions such as a photovoltaic system (solar panels) of7.3 megawatts, the installation of LED lights, and no less than 33,380 m2 of outdoor green areas.
This plot of land is the last one available within the Livorno Freight Village, which represents the most strategic logistic pole in the area, thanks to important existing and planned infrastructure, such as the FI-PI-LI superhighway connecting Florence, Pisa and Livorno, the A12 motorway (Genoa-Rome) which is only four minutes away by car, and the direct connection with the Port of Livorno (via road and rail) currently under construction.
In Cambiago (MI), the acquisition of an existing asset of approximately 20,000 m2 of GLA, already fully leased, was finalised. The asset includes a +/- 1GW photovoltaic plant installed on the rooftop and lends itself to future renovation or redevelopment. The site is situated in an excellent location, north-east of Milan, opposite one of the most important motorways in Italy, the A4, which connects Milan with Venice, with direct access through the Cambiago exit. The location is an eight-minute drive from the 'Milano Est' exit and 3 minutes from the A58, which is Milan's Tangenziale Esterna through the 'Caponago' intersection. In addition, the site benefits from excellent infrastructure and existing connections to the centre of Milan and the international airport in Segrate. This is a particularly strategic project for P3, since it fits into the consolidated A4 submarket from the east of Milan towards Bergamo and Brescia, which is considered one of the best Italian markets.
As projects multiply, so the P3 team also grows, and this year new additions have been announced, strengthening the areas of Development Manager, Construction and Property Management at the Milan headquarters, which has also recently been expanded. In April, Elizabeta Ackovic joined the team as Development Manager. In May 2022, Pierfrancesco Calori joined in the role of Construction Project Manager, reporting directly to Tomaso Carta, Head of Construction Italy.
In addition, P3 also welcomed Davide Di Muzio, who has held the role of Property Manager since June, further strengthening the Asset and Property Management department and reporting directly to Christian Motola, Head of Asset Management. The latest new recruits were Stefano De Luca as Investment Manager; and Francesca Ampollo Rella, in the role of Head of Legal Italy.
P3 pursues sustainability in all aspects of its business and the creation of long-term value by proactively working towards a more socially and environmentally conscious and sustainable future.
The company is committed to seeking ways to effectively reduce its impact upon the climate, in line with globally recognised carbon reduction targets. In line with these important goals, a European ESG strategy manager, Nicole Chan, was recently appointed, demonstrating P3's determination to further strengthen its commitment to them.
In addition, the company obtained BREEAM ‘Very Good’ certification for its entire portfolio of most historic buildings, as part of an increasingly green transition path which is in line with the strategy of fully integrating ESG into all P3’s activities. Meanwhile, new buildings will be BREEAM ‘Excellent’ certified, by one of the world's most advanced and popular construction design standards for assessing the environmental impact of buildings.
With the aim of boosting the intermodal system and working together for sustainable development throughout the supply chain, P3 has recently formalized its membership in ALIS, the Sustainable Intermodal Logistics Association. This will lead to a valid ground for comparison and enrichment for the growth of the transport and logistics sector, in line with the shared values of green, modern and technologically advanced logistics.
Andrea Amoretti, Managing Director P3 Italy, said: "Both BTS and speculative development activities continue to be key for P3 and our goal for the near future remains to identify the best acquisition opportunities in the market. We are a client-oriented company with long-term relationships and a team of highly qualified industry professionals. This is why we are always ready to welcome new talent and we intend to expand our team of experts; more new entrants are also expected in Italy in the “near future."