P3 Logistic Parks, a long-term investor, and developer of European warehouse properties contributed to the overall strengthening of the logistics sector in 2020. The year brought unprecedented challenges for individuals, businesses, and society as a whole, but the logistics sector remained stable. In 2020, P3 made two major acquisitions, acquiring the Maximus and Matrix portfolios with a total area of ~ 1.5 million sqm GLA. Over the past year, P3's European portfolio grew by around 48 percent, to around 6.5 million sqm GLA.
Last year in Poland, P3 completed construction and handed over to customers a total of 80,000 sqm of warehouse and office space in two facilities in the P3 Mszczonów park – it was a new central warehouse for PepsiCo and a sorting facility for InPost. The P3 portfolio has also been expanded by two city plots located in the Warsaw agglomeration, where new parks P3 Warsaw I and P3 Warsaw II will be built. In total, over 250,000 sqm of new lease agreements were signed, and at the end of the year, the Polish portfolio increased to 920,000 sqm of existing warehouse space. Significant transactions also include the sale of 230,000 sqm of warehouse space in the P3 Mszczonów park to a Singapore fund owned by Elite Partners Capital.
“During the pandemic, the logistics sector provided important support to society. In Poland, we have completed new projects that allow us to ensure a reliable supply chain. We are aware of the growing popularity of online orders and increasing consumer requirements regarding delivery time, which is why we are expanding our portfolio with new plots of land within the administrative boundaries of cities so that our tenants can deliver orders to the end customer as soon as possible. We are still looking for opportunities for new acquisitions and further growth to meet the current challenges of accelerated digitization of trade," Bartłomiej Hofman, Managing Director P3 Logistic Parks in Poland, said.