P3 completes acquisition of 467,000 m² of warehouses from CA Immobilien (PL)

The assets acquired from CA Immobilien are A 177,000 m² park at Blonie, 30 km west of Warsaw’s city center. Tenants include Bayer, IBM, Orange, Triumph and online retailer Allegro, reflecting the park’s appeal to large retailers seeking proximity to the Polish capital.
A park near Piotrkow, central Poland, that provides 75,000 m² of space and direct road links to Warsaw, Wroclaw and Katowice.
The Bucharest park consists of 215,000 m² of space that is almost fully occupied plus 40 ha. of land for development. It is a major center for third-party logistics providers, due to its access to the city’s principal ring road and the A1 motorway plus the onsite freight handling facilities as part of the pan-European rail corridor. The close proximity to central Bucharest attracts e-commerce tenants, notably online retailer eMag, as well as multinationals such as Carrefour, Tibbett Logistics, Gebrüder Weiss and Interbrands.
The completed acquisition strengthens P3’s platform in the “CEE Logistics Triangle” at the crossroads of east and west European transport links and Germany’s expanding industrial market. The purchase doubles the number of P3’s Polish logistics parks and strengthens its position around the core Warsaw market.
Ian Worboys, P3’s Chief Executive, said: “These are high quality assets in locations where we see rising occupancy and high customer demand for Build-To-Suit (BTS) solutions. This deal follows our other recent acquisitions and further consolidates P3’s presence in the fast-growing Central and Eastern European markets.”
Ian Worboys concluded: “We will continue to look for acquisition opportunities, or develop warehouses in key logistics locations in order to further support our clients in the realization of their commercial needs and ambitions. For now, supply is still lagging behind growing demand for logistics space in many markets resulting in a positive outlook for rental growth.”
Source: P3 Logistics Parks