Barcelona, 27 July 2023 - P3 Logistic Parks, a pan-European property investor, developer and owner of logistics real estate, is to build a logistics asset with a total surface area of 33,000 m², in Catalonia, Spain.
The new property will comprise a 32,000m² warehouse and 1,250 m² of office space. This development will contribute to increasing the level of availability of logistics space in Barcelona at present, with the best facilities in terms of space utilisation, operability and energy efficiency. This new project strengthens P3's commitment to increasing its presence in the logistics market of Catalonia.
Located on high-volume ready to go land, construction work on this asset will commence in the first quarter of 2024 and be completed in early 2025. In addition, Savills España, a leading real estate consultancy specialising in real estate, will be the leasing agent and be in charge of the tenant search.
The facilities will be located in an area of high strategic value and provide warehousing and distribution services. This asset, conceived as a single-storey space, will have a clear height of 11.5 m, which is higher than other warehouses with similar characteristics and will improve the use of space. The warehouse will also have loading bays and parking spaces.
The logistics asset will be designed to comply with the BREEAM “Excellent” quality standard, a demanding accreditation that guarantees the sustainability of the warehouse. The entire site will be equipped with LED lighting and have a photovoltaic installation of 310 KW.
The warehouse shall be located in the heart of the Mediterranean corridor, and the prime location of Sant Fruitós de Bages will host it. In this way, P3 Logistic Parks commits to a key area with high impact in the Catalan and Spanish logistics sector, and also in the south of France.
P3 was advised by Savills España, and Ashurst, on all legal aspects of the transaction, and by Arcadis on all technical issues.
Javier Mérida, General Manager of P3 Spain, explained that the company will continue to focus on land with high strategic value, and contribute to providing tenants with everything they need.
He said: "This new project represents a challenge but also an opportunity in a time of uncertainty like the present. With this new development, we are strengthening P3's commitment to the logistics market in Catalonia and we hope to contribute to improving the amount of logistics space in Barcelona with quality buildings in strategic locations for regional distribution."
Sant Fruitós, a strategic area for Catalan distribution
The warehouse will be located in the municipality of Sant Fruitós de Bages, in the heart of the Mediterranean Corridor and just 60 km from Barcelona. With direct connections to the C16 and C25 motorways, and proximity to highways such as the A2 and AP7, Sant Fruitós is a strategic logistics enclave close to the ports of Barcelona and Tarragona and the airports of Barcelona and Reus, with regional distribution capacity in Catalonia and the south of France.
P3, one of the leading owners in Spain
P3 Logistic Parks Spain began operations in 2016 and specialises in the acquisition and management of real estate assets. Its portfolio comprises more than twenty assets totalling 825,000 sqm and a stock of land for the development of more than 230,000 sqm of additional land. In addition, P3’s socimi (Real estate investment trust) in Spain has a solid client base that includes companies such as Seur, Montfrisa, El Corte Inglés, Correos, Amazon, Airbus, DHL and Groupe CAT.
In this way, P3 continues to consolidate its position as one of the leading owners of logistics warehouses in Spain and strengthens its presence in Catalonia, where it already has two assets in Abrera and Parets del Vallés, totalling more than 40,000 m².