P3, the specialist owner, developer, and manager of European logistics properties, has started work on the construction of a new warehouse at P3 Prague D11 park. The 40,000 sqm unit is the second and largest warehouse to be built at the park. More than a third (15,000 sqm) is being undertaken on a Build-To-Suit (BTS) basis for the family-run French distribution company FM Logistic in a deal brokered by CBRE. The remaining space will be available to lease.
The rapid growth of P3 Prague D11 park complements P3’s portfolio of parks strategically positioned around the Czech capital, including P3 Prague D8, P3 Prague D1 and P3 Prague Horní Počernice, and enhances their mutual synergies.
FM Logistic is a leading international logistics contractor with a portfolio of clients that includes retail chains, food producers, manufacturers of household care products, cosmetics makers, pharmaceutical companies and other manufacturers.
“FM Logistic is an important customer,” said Tomáš Míček, Country Head of P3 Czech Republic, adding, “with this expansion FM Logistic is almost tripling the total amount of space it uses in P3 warehouses in the Czech Republic. We work closely with our customers to understand their business needs and, like here with FM Logistic, this often leads to a new BTS opportunity.”
Peter Bečár, P3’s Managing Director for CEE commented, “We are also working with FM Logitstic in Poland and Romania. P3 Prague D11 park is FM Logistic’s sixth P3 park location in these three countries. Our partnership shows that we are able to satisfy our customers’ needs in locations throughout Europe.”
“We are working in partnership with P3 in a number of European countries,” said Štěpán Ladányi, FM Logistic, Commercial Director CZ & SK. “Thanks to the optimal location and P3’s ability to deliver a bespoke facility based around our specific needs and requirements, we will be able to serve our customers throughout the Czech Republic even more efficiently when we relocate to this new building in January next year. The possibility for further expansion of this warehouse is also very important to us.”
In addition, P3 purchased land adjacent to the park earlier this year and now has space for the construction of bespoke BTS units ranging in size from 3,000 sqm to 20,000 sqm for customers from logistics, light manufacturing and other industrial sectors. Once completed, the park will have a total leasable area of more than 155,000 sqm – around one third of which will have been developed by the end of 2016.
At present, P3 is building over 90,000 sqm of industrial space in the Czech Republic. In addition, the company is working up plans for new facilities in Olomouc and Příšovice and has also obtained a building permit for two additional warehouses at Mladá Boleslav.