o The company closes 2020 with excellent occupancy figures, backed by the extension of existing contracts and the signing of new contracts with major companies.
o 2021 is set to be a year marked by high-value operations in key areas such as the Mediterranean Corridor and the Central Corridor.
P3 Logistic Parks, a pan-European property investor, developer and owner of logistics real estate, closed 2020, a year marked by the Coronavirus pandemic, with an occupancy rate of 95%, based on the company's commitment to its regular customers and contracts with new customers.
Despite the fact that 2020 was a complex year with an unprecedented context due to Covid, the flexibility and adaptation of P3 Logistic Parks to the needs of its customers and other companies at different stages of business development have allowed the company to close key contracts with national companies.
The company, which has more than 620,000m² of GLA in Spain, in addition to some 180,000m² in development opportunities, has achieved excellent results in terms of occupancy.
For example, Correos Express closed the lease of a warehouse of more than 11,000m² in Illescas, while Severiano Servicios Móviles, a company specialising in the distribution of medical equipment, closed a lease in P3 Valdemoro for a surface area of more than 11,000m².
In addition, contracts with regular customers have been extended, accompanying them in their growth, as in the case of Seur, with an increase of more than 12,000m² of surface area in P3 San Marcos (Getafe) or in the case of Conway, in the P3 Quer Park, with the development of some 10,000m² of new surface area, including a cold storage warehouse.
Likewise, growth at national level has resulted in great opportunities, such as a project underway in Castellón, a key area within the Mediterranean Corridor, with a land area of close to 200,000m², of which 77,000m² will be the warehouse. This project began in the third quarter of 2020, with delivery scheduled for the first quarter of 2022.
In addition, P3 Logistic Parks has acquired 80,000m² of land in Illescas, where it will be able to develop a fourth phase in this emblematic park. It will be able to propose up to 55,000m² of turnkey project, which will have the highest quality standards, in line with the needs of potential interested customers.
This recent acquisition positions P3 as the company owning 24% of the total surface area of Veredilla III and takes place at a time when logistics has gained relevance and is positioned as a key sector for the Spanish economy, where Illescas plays a fundamental role due to its proximity to Madrid and its excellent connections.
In the words of Javier Mérida, Managing Director of P3 Logistic Parks España: "2020 has been a year full of challenges, which we have been able to overcome thanks to our commitment and flexibility with our clients and our obsession to maintain the highest standards. Thus, we have given our best and the occupancy figures back us up. At P3, we are confident that 2021 will be an excellent year, both for the sector and for our clients, who will be able to enjoy our best services".
2020 has not only been a remarkable year on a national level, as the company has acquired portfolios of great relevance such as Maximus, with more than 1 million m² distributed in key regions of Central Europe (Germany, Poland, Slovakia, Holland, Belgium and Austria), or Matrix, with more than 650,000m² distributed in more than 30 logistics assets in Germany.
Similarly, P3 Logistic Parks underwent a leadership handover to a new CEO, announced in February 2021, based on the appointment of Frank Pörschke to replace Tim Beaudin, an action included in a strategic leadership transition plan.
Javier Mérida said: "Despite the current circumstances, European logistics is in a good momentum, boosted by key sectors such as e-commerce, which is central to the pandemic. Our goal remains to continue to grow while offering exceptional service, something that will undoubtedly be maintained in 2021".