High quality warehouse developer and owner has 813,000 m² under management, 200,000 m² of projects started in 2024, occupancy at 99%, and 600,000 m² ready for future developments
Milan, 20 November 2024 - The year 2024 saw steady growth for P3, which specialises in long-term investment, development, acquisition, and management of logistics properties. The company’s expansion in Italy features new projects and occupancy close to 100%.
Globally, the logistics real estate market continues to benefit from strong structural drivers, such as nearshoring and e-commerce. Although economic uncertainty has slightly reduced demand. resulting in fewer speculative developments and a modest increase in vacant properties, P3 recorded solid operational and financial performance in Italy during this year. The targeted acquisition and development strategy contributed significantly to the growth of the portfolio to 8.9 Mm².
THE PROJECTS
An exclusive Prime logistics hub of over 25,000 m² was opened in Calvenzano (BG), and fully leased to a global industry leader.
This asset of over 25,000 m² is located in a strategic position, only 5 km from the exit of the A35 - Caravaggio (BreBeMi), which is a key junction that quickly connects Brescia, Bergamo and Milan, with the Lombard capital only 40 km away.
The development is positioned as a strategic asset for northern Italy, in an already consolidated location where important logistics players operate. The hub will allow rapid access to the main industrial cities in the North. The warehouse, which has been nominated for a prestigious BREEAM “Excellent” certification for sustainability, has been designed to meet the highest standards, with a photovoltaic system, electric vehicle charging stations, and state-of-the-art LED lighting.
In June, P3 announced the start of operations of FIEGE Logistics, to which it leased the first of three warehouses in the innovative P3 ALTEDO hub, in San Pietro in Casale (BO). The impressive 38,000 m² facility is not only a logistics hub, but also a symbol of P3's commitment to excellence and customer demand for environmentally-friendly buildings.
FIEGE, a European logistics operator with a strong presence in Italy, manages operations on behalf of Action, a fast-growing Dutch retail chain. This partnership underlines P3's ability to attract major international brands through its innovative strategy and commitment to cutting-edge logistics standards. Strategically located close to the A13 motorway, the Bologna Interporto, and only 20 minutes from the Guglielmo Marconi Airport, the Altedo logistics hub offers unparalleled access to major transport arteries, while also marking a major economic breakthrough for the area, and with further expansion already planned. Indeed, on the same site, P3 is developing two further warehouses of 62,000 m2 in total, and one of 26,000 m² will be available by the end of the year.
With the Altedo hub, P3 redefines the concept of logistics space with an unprecedented focus on sustainability. The hub, developed on a formerly industrial site, is now a benchmark in terms of urban regeneration and social responsibility, a real driving force for the development of services to the area.
Sustainable transport systems have been strengthened, with the aim of encouraging non-motorized transportation; electric recharging stations have been installed, new cycle paths have been created, and a bike-sharing fleet has been made available to the workers of the logistics hub and the wider community at the station, to encourage greener and more active lifestyles. In addition, a public bus line has been activated, which can be used by the entire community, connecting the San Pietro in Casale railway station, the town of Altedo and the logistics centre. Workers at the new site will enjoy the benefit of free transportation tickets for the entire metropolitan area.
There is also a programme of urban reforestation with high C02 absorption, the energy efficiency of building volumes, the use of photovoltaic panels, and water systems that use recycled rainwater. in short, the Altedo hub is a model example of how to combine a productive investment and a very high level of sustainability, by harnessing cutting-edge technologies.
Elsewhere, P3 is delivering the first greenfield facility in Veneto, in Cittadella (PD), where a logistics warehouse is being built comprising 160,000 m², with a GLA of 84,467m². This warehouse has been fully leased to a third-party logistics operator. The site has great potential, thanks to its special characteristics of amplitude and absolute flexibility. It is strategically located only 25 minutes from Verona, 30 from Padua, and 40 from Treviso. It also benefits from direct access to the new Superstrada Pedemontana Veneta, linking Vicenza and Treviso via the Bassano del Grappa tollgate 10 minutes away. An emerging area within the already consolidated Padua market; it forms a sort of strategic centre of the North East area, between Padua, Venice, Vicenza and Treviso.
Livorno is the first project for P3 in Tuscany, where at the Interporto di Collesalvetti-Guasticce a 133,000 m² plot of land has been acquired for the construction of a logistics warehouse ideal for single or multi-tenants. The space will be available in 2026. Within the park, P3 is developing a new facility with a total mezzanine area of approximately 71,000 m². The area can be subdivided into individual, smaller units, and boasts excellent parking facilities for cars and trucks, some of which are equipped with electric charging stations.
The park is located in the municipality of Collesalvetti, within the Livorno Freight Village, which is a largely consolidated logistics hub. This plot of land is the last available within the Interporto, which is the most strategic area, thanks to the important pre-existing and planned infrastructures, such as the FI-PI-LI superhighway linking Florence, Pisa and Livorno, the A12 motorway (Genoa-Rome) only 4 minutes away by car, and the direct connection with the Port of Livorno (road and rail), which is currently under construction. Like all new buildings, the new building will obtain BREEAM ‘Excellent’ certification, thanks to planned interventions such as a photovoltaic system, the installation of LED lights, and the creation of outdoor green areas.
The partnership with the Sustainable Intermodal Logistics Association (ALIS) has continued this year. It is a very important association that connects all the different parts of the sector and maintains an open and proactive dialogue with local government, with the aim of identifying business synergies and commercial opportunities which contribute to a shared strategy of sustainable development. Intermodality, digital challenges and new technologies are among P3's main focuses for steering logistics increasingly towards sustainable behaviour and practices at economic, environmental and social levels.
The growth of the Milan-based team continues. Recently, the appointment was announced of AndreaMenechini, the new Head of Development for Italy, , having gained great experience in the sector by working with important international groups, from Aquila Capital, to Arcus Real Estate.
Andrea Amoretti, P3 Managing Director, says: "In 2024, P3 Italia will have exceeded one million square metres in size, a goal achieved thanks to our sustainable and long-term investment policy. The constant dialogue with local government allows us to identify opportunities and to continue on the path of sustainable growth from an economic, environmental and social points of view. The year 2025 will find us well positioned to offer opportunities and meet the needs of our customers."