Frankfurt am Main - Düsseldorf | September 4th, 2024 – P3, a leading developer and long-term owner of logistics and commercial real estate in Europe, and METRO Deutschland GmbH, a leading wholesaler, announce the extension of their lease agreements in Germany.
The extension covers 31 properties that P3 acquired in 2020. These properties, with a total area of 623,000 square meters, are located in prime urban locations across many major German cities, including Berlin, Dortmund, Nuremberg, Hamburg, Hanover, Cologne, Dresden, and Leipzig. This decision reinforces P3’s position as a long-term oriented investor and key player in the German commercial real estate market as well as METRO Deutschland's position as one of the leading wholesalers in Germany. It also highlights the shared commitment of both companies to these locations and their ongoing partnership.
Sönke Kewitz, Managing Director of P3 Germany, commented: "This lease extension marks an important milestone for P3 in Germany. It confirms our strategy of investing in locations with high potential and of strategic importance. We are excited to continue our successful collaboration with Metro."
Photo Copyright: P3 Logistic Parks
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