ARTICLES LABELLED WITH TAG P3

P3 has promoted Sînziana Pardhan to the role of Country Head in Romania. Pardhan, who was recently appointed as Acquisitions Director for Romania, takes over from Blake Horsley, who has become P3’s Group Development Director. 

P3 is to start the construction of two new warehouses with a total floor area of 25,500 sqm at the P3 Prague Horní Počernice logistics park to respond to growing demand for space at the park. Once the expansion is completed, the park will have a total lettable area of nearly 380,000 sqm. Scheduled to start in the second half of 2017, construction will be completed at the beginning of 2018.

P3 has celebrated the raising of the last pillar of a new, 31,904 sqm warehouse at P3 Poznań park in Poland’s rapidly developing Gądki logistics area. One-third of the building - 10,000 sqm - will be occupied by British American Tobacco Polska. The BAT space, which will be commissioned in August 2017, is being designed to meet the company’s specific needs. The remaining space is being built on speculative basis.

P3 has started the construction of a new warehouse at P3 Bucharest Park. The 13,900 sqm logistics facility will include 400 sqm of offices. P3 is already in advanced discussions with a potential customer interested in leasing the whole building.

P3 has raised the final column on 26,000 sqm of warehousing and offices at P3 Błonie park near Warsaw in Poland. The space is being developed on a BTS basis for Antalis, a distributor of paper, packaging systems and plastics for visual communication.

P3 has completed the first two warehouses at P3 Prague D11, developed partly on a Build-to-Suit basis for Exiteria and FM Logistic, comprising a total of 60,000 sqm. The warehouses are among the largest buildings planned for the park and account for over a third of its total size.  The rest of the site can accommodate eight further warehouses ranging from 3,000 sqm to 26,000 sqm. After completion, P3 Prague D11 will provide a total of 155,000 sqm.

Altex, one the largest retailers of electronics, home appliances, IT&C and multimedia products in Romania, has doubled its lease in the P3 Bucharest industrial park by signing a new contract for 15,000 sqm of warehouse space. 

GIC, Singapore’s sovereign wealth fund, has completed the purchase of P3, one of the leading pan-European owners, developers and managers of logistics properties, from TPG Real Estate and Ivanhoé Cambridge. The deal, which values the business at €2.4 billion, was first announced in November 2016, but had to be approved by EU regulators before it could be finalised. It is one of the largest European real estate transactions of 2016.

P3 has commenced work on a new 80,000 sqm warehouse at P3 Błonie park in Poland. A column raising ceremony to mark the start of construction took place on 1 December. The milestone marks the start of a new phase in the expansion of the park, which will see it grow from just over 196,000 sqm today to over 275,000 sqm.

P3 Logistic Parks, a pan-European owner, developer and manager of logistics properties, announced that GIC, Singapore’s sovereign wealth fund, has signed a definitive agreement to acquire P3 from TPG Real Estate and its partner Ivanhoé Cambridge. The transaction values the business at €2.4 billion and is the largest European real estate transaction this year. The transaction is subject to regulatory approval and is expected to close by the end of 2016.