P3 sets a course for 770,000 sqm – large lease with Arvato
Logistics park developer P3 will be managing about 770,000 sqm logistics space in Germany by the end of 2021. According to P3’s Managing Director Germany Jürgen Diehl, projects currently in planning or under construction will be adding roughly 450,000 sqm to the current portfolio of about 320,000 sqm. If further deals currently being negotiated are finalized, the construction volume could even increase to 700,000 to 800,000 sqm. P3’s next project is a logistics development in Obertraubling near Regensburg that is not pre-let. The company plans to develop 37.000 sqm lettable space on the currently vacant lot on Baumschulenstraße 1. In a conversation with TD at the Expo Real, Diehl also stated that the tenant of the 40,000 sqm first construction section in logistics park P3 Kamen is Bertelsmann subsidiary Arvato. The four halls are to be handed over this month.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.