Long-term investor-developer, P3 Logistic Parks, has contributed to the overall resilience of the logistics sector during 2020. In a year that created unparalleled challenges for individuals, business and society, the logistics sector has remained a resilient and necessary infrastructure. P3 concluded two major acquisitions in 2020, Maximus and Matrix, totalling ~1.5 million m2 GLA. During 2020, P3’s portfolio increased by about 48%, to about 6.5 million m2 GLA.
Development activity remains one of the key drivers of growth for P3. In the previous 12 months, P3 concluded ~600,000 m2 of new development for new and returning customers, such as Amazon, Mercedes-Benz, TEDi, PepsiCo, DHL and InPost.
„We have continued to deliver on our development promises to our customers. Its true that the pandemic has not always made it easy, but we continue to communicate with our customers and find the best way forward together,“ states David Marquina, co-CDO.
"Development project highlights of the year include the hand-over of the 190,000 m2 G+3 warehouse for Amazon in Castelguglielmo, northern Italy," states Jean-Luc Saporito, P3 co-CDO. "We also commenced construction on a 98,000 m2 warehouse in the Echt region of the Netherlands, which is targeting the highest level of BREEAM certification „Outstanding“. We continue to invest into brownfields, having announced the acquisition of a 40 hectare plot of land in central Ostrava, the Czech Republic’s 3rd largest city."
Following global trends, P3’s portfolio composition continued to see a shift toward eCommerce and retail operators. As of the 31st December 2020, ~30% of P3’s portfolio was engaged in retail and eCommerce activity. This is directly in line with P3’s strategy to develop warehouse properties in strategic locations near population centres, of which some P3 classifies as Urban Logistics.
“We have a multi-faceted investment strategy to grow our market share in the pan-European market through both development and acquisition, responding to the current needs of the logistics industry,” states Otis Spencer, P3 CIO. “With the support of our owner, we are actively looking for further investment deals to strengthen our position as one of Europe’s leading developers and managers of logistics properties.”
In total, P3 has grown by 30 new employees in Europe to a total of 190 employees in 2020. In Germany alone, the team doubled from 16 to 32 employees. In the coming months, P3 also wants to expand its team of experts in a targeted manner in order to drive development, land acquisition and new business opportunities.