In 2020, P3 concluded 600,000 m2 of new developments for new and returning clients such as Amazon, Mercedes-Benz, TEDi, PepsiCo, DHL and InPost.
Development project highlights of the year included the hand-over of the 190,000 m2 G+3 warehouse for Amazon in Castelguglielmo, northern Italy, as well as the commenced construction on a 98,000 m2 warehouse in the Echt region of the Netherlands.
Furthermore, P3 continues to invest in brownfields, having announced the acquisition of a 40-hectare plot of land in central Ostrava, the Czech Republic’s 3rd largest city.
P3 also concluded last year two major acquisitions, Maximus and Matrix, totalling 1.5 million m2 GLA. During 2020, P3’s portfolio increased by 48%, to 6.5 million m2 GLA.
Shift toward eCommerce and retail operators
Following global trends, P3’s portfolio composition continued to see a shift toward eCommerce and retail operators.
As of December 31st, 2020, ~30% of P3’s portfolio was engaged in retail and eCommerce activity.
This is directly in line with P3’s strategy to develop warehouse properties in strategic locations near population centres, some of which P3 classifies as Urban Logistics.