(Prague, 11 June, 2024) P3 Logistic Parks, a leading developer, owner, and manager of high-quality industrial real estate across Europe, has acquired a standalone building next to P3 Prague D8 park in the Czech capital city.
This strategic acquisition of the 30,500 m2 asset benefits P3 customer, VF Corporation, by consolidating and enhancing its operational efficiency under a single administrator and landlord.
P3 Prague D8 is located on the northern edge of Prague near the D8 motorway to Zdiby and Klecany. The industrial park, which began construction two decades ago, today boasts seven buildings totalling 176,840 m² of leasable space, including the newly acquired hall.
The park's diverse tenant roster includes leading companies such as VF Corporation, Pricol Wiping Systems Czech, DHL Express, Blažek, Puma, and Alza. VF Corporation, an American apparel and footwear company, is the key tenant of the newly acquired building, and also occupies space in another building in the P3 Prague D8 complex. In addition to storage space, VF Corporation also rents 2,700 m² of office space.
Peter Jánoši, Director of P3 Logistic Parks, Czech Republic and Slovakia, said: "Our acquisition strategy considers various options, whether it includes areas for development, redevelopment, or acquisition of single assets or portfolios. In the case of P3 Prague D8, it is essentially about consolidation of an area that is widely viewed as a single unit."
P3 is an active investor in the European real estate market. Last year, the company acquired land near Liberec in the Czech Republic, and construction is underway of the company’s third park in the region. Elsewhere, in Herkenbosch, the Netherlands, P3 secured a forward purchase of a development project near Belgium and Germany, planning over 60,000 m² of logistical space. Additionally, P3 has expanded beyond continental Europe into the United Kingdom, adding around 160,000 m² of logistics space to its portfolio.