Markets like Poland have recorded rental growth of 20% and the upward trend is visible almost everywhere across P3 Logistic Parks’ European portfolio. During MIPIM, Property Forum sat down with David Marquina, Chief Development Officer of European Development at P3, to talk about the drivers of European logistics markets and to find out what’s next for the developer.

The developer has launched construction work on Panattoni Park Tricity East III, which on completion will comprise 44,300 sqm, of which 33,600 sqm has already been leased.

As part of its large-scale development series, Raben Group has opened its new industrial facility in Dunaharaszti, a rapidly developing logistics destination near Budapest. The total value of the project is approximately €7.5 million.

Investor NREP wants to take control of property developer 7R. The Scandinavian fund has already acquired another Polish logistics developer, BIK SA, in 2021.

Three new members of staff have joined the Hungarian team of Panattoni, the European industrial real estate developer. Róbert Koncz is in charge of real estate operations, Péter Farkas of technical project management and Tamás Szűcs of land acquisition.

Regesta S.A., a logistics services provider, has leased nearly 36,000 sqm in Panattoni Park Tricity East V. Its new facility will enable it to cooperate with the nearby seaport, offer container handling in the Baltic Hub and the BCT, and expand its sea transport services. The tenant was represented during the transaction process by the real estate advisory firm Newmark Polska.

Ukraine’s logistics real estate segment has suffered significant losses and destruction since the beginning of the full-scale invasion. Russia targeted warehouses and about 500 thousand square meters of warehouse space was destroyed during the attack on the capital in the Kyiv region. Iryna Nastych summarised the situation in an article prepared by the Ukrainian Real Estate Club for Property Forum.

Logicor continues expanding in the Czech Republic when it acquired a 100,000 sqm brownfield close to Prague, further strengthening its presence in this crucial market and nearly doubling its footprint.

According to Savills' latest European logistics outlook, the take-up of industrial and logistics space across the continent totalled 37.5 million sqm in 2022. Despite ongoing economic uncertainty, this signifies a fall of only 6% on 2021’s total of 40.2 million sqm, which was a record high for the sector.

Panattoni launched the construction of Panattoni Park Lublin IV in March. Eventually, the centre will comprise almost 55,000 sqm. The main support for the development is €32.8 million of financing from Alior Bank.