Demand for modern industrial properties near Prague, which is the most in-demand area in the country, continues to grow.
P3, the specialist owner, developer, and manager of European logistics properties, has started work on the construction of a new warehouse at P3 Prague D11 park. The 40,000 m2 unit is the second and largest warehouse to be built at the park. More than a third (15,000 m2) is being undertaken on a Build-To-Suit (BTS) basis for the family-run French distribution company FM Logistic in a deal brokered by CBRE. More than a third (15,000 m2) is being undertaken on a Build-To-Suit (BTS) basis for the family-run French distribution company FM Logistic in a deal brokered by CBRE. The remaining space will be available to lease. The rapid growth of P3 Prague D11 park complements P3’s portfolio of parks strategically positioned around the Czech capital, including P3 Prague D8, P3 Prague D1 and P3 Prague Horní Počernice, and enhances their mutual synergies.
FM Logistic is a leading international logistics contractor with a portfolio of clients that includes retail chains, food producers, manufacturers of household care products, cosmetics makers, pharmaceutical companies and other manufacturers.
"FM Logistic is an important customer," says Tomáš Míček, Country Head of P3 Czech Republic, adding, "with this expansion FM Logistic is almost tripling the total amount of space it uses in P3 warehouses in the Czech Republic. We work closely with our customers to understand their business needs and, like here with FM Logistic, this often leads to a new BTS opportunity."
Peter Bečár, P3’s Managing Director for CEE comments, "We are also working with FM Logitstic in Poland and Romania. P3 Prague D11 park is FM Logistic’s sixth P3 park location in these three countries. Our partnership shows that we are able to satisfy our customers’ needs in locations throughout Europe.”
"We are working in partnership with P3 in a number of European countries” says Štěpán Ladányi, FM Logistic Commercial Director CZ & SK. “Thanks to the optimal location and P3’s ability to deliver a bespoke facility based around our specific needs and requirements, we will be able to serve our customers throughout the Czech Republic even more efficiently when we relocate to this new building in January next year. The possibility for further expansion of this warehouse is also very important to us."
"Based on FM Logistic's requirements, CBRE prepared an overview of suitable locations in the area to the east of Prague. The best match to our client's requirements was P3’s proposal for the construction of a new facility at P3 Prague D11 park," explains Lukáš Šaling, Associate Director from CBRE’s Industrial & Logistics Department, who brokered the transaction.
FM Logistic’s new facility will include office space and a temperature controlled area that will be used for storing food products. To meet the client's requirements, P3 has employed a unique design that features a reinforced façade panel to provide an additional level of insulation helping to reduce heating costs. The new building has a clearance height of 12.2 m; increasing its capacity to 20% higher than the industry standard, which saves as much as 25% in lease costs.
The remainder of the building is available for lease in small units (starting at 2,000 m2) that provide an ideal home for expanding start-ups and new companies in the market as well as other prospective customers.
There are high and growing levels of demand for logistics facilities in the P3 Prague D11 park area. P3 has seen strong occupier interest in the logistics space currently available in the first building at the park, a 21,047 sq mwarehouse that was completed last month (June 2016), approximately half of which is occupied by Exiteria a.s.
In addition, P3 purchased land adjacent to the park earlier this year and now has space for the construction of bespoke BTS units ranging in size from 3,000 m2 to 20,000 sq m for customers from logistics, light manufacturing and other industrial sectors. Once completed, the park will have a total leasable area of more than 155,000 sq m – around one third of which will have been developed by the end of 2016.
At present, P3 is building over 90,000 sq m of industrial space in the Czech Republic. In addition, the company is working up plans for new facilities in Olomouc and Příšovice and has also obtained a building permit for two additional warehouses at Mladá Boleslav.
P3 is also expanding in other European countries and currently has 12 warehouses, with a total floor area of close to 250,000 sq m, under construction. In addition to its construction programme in the Czech Republic, P3 is on site with projects in Poland, Slovakia and Romania. It is also growing in Western Europe. In January, the company bought land near Munich, where it is to build the 55,000 sq m P3 Gottfrieding park and it completed a warehouse for PSA Peugeot Citroën at P3 Niedersachsenpark in North West Germany at the end of April. It is about to start construction of its first new build project in France.
P3 Prague D11 park is located close to the Czech capital, just eight km from the Centrum Černý Most shopping area. The park features excellent transport connections thanks to its proximity to Highways D11 and D10, the main routes that connect Prague with the eastern part of the Czech Republic and the south west of Poland. There is a railway station only 300 m from the park, making the complex one of the few facilities in the area that is connected to the rail network. In addition, the park is set to be served by a public bus route in the future.