First quarter 2021, P3 leased 124,358 sqm

by   CIJ News iDesk III
2022-04-12   22:43
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In the first three months of this year, the investor, developer and industrial property manager P3 Logistic Parks concluded a total of 21 contracts for more than 124,000 square meters. This is a 60% year-on-year increase.

In the first quarter of 2021, P3 concluded 26 contracts or amendments for the lease of areas with a total area of ​​77,309 m2; a year later, in the same period, 21 contracts and amendments covered the lease of premises in the range of 124,358 m2. "Last year's growth was a record for us in many ways and the positive trend continues this year. This proves that the industrial real estate market is still on the move. New demands for warehouse and production facilities are coming to the market. At the same time, there are changes in the supply chain, which is affected by many new factors. Tenants are trying to pre-stock to better manage supply fluctuations. Whoever has raw materials and goods in stock today wins. This, of course, increases the overall demand for vacant space, affects rental prices and accelerates the entire negotiation process between the Landlord and the Tenant. Of course, inflation also plays a role in this, ”says Jan Andrus, Head of Leasing at P3 in the Czech Republic.

This is also confirmed by the structure of new leases, in which 70% falls on renewed leases. However, more than a fifth fall on new contracts. The range of new tenants is very diverse. In addition to logistics companies (for example, Asen Logistic), publishing and forwarding companies (for example, Česká distribuční) or representatives of agricultural producers such as Brop will also move to P3 parks. Linde Material Holding will become the historically first tenant of the newly built P3 Ostrava Central. In the branch for northern Moravia, in addition to the sale of new trucks, it will also provide intralogistics solutions and a wide portfolio of handling equipment.

The expansion of areas for existing tenants is also gratifying. Companies such as Breadway, Forklifts and Mailstep have seen growth within P3 Parks. The proximity and synergy of the P3 Prague Horní Počernice and P3 Prague D11 parks were used by MD Logistika and moved to the new one. HP Tronic is expanding into the vacant space in the middle of the year. "In total, these expansions and relocations account for almost a tenth of P3's new leases in the first quarter of this year," adds Jan Andrus.

A similar part of the total area is made up of office space. Almost a quarter of the new contracts then concerned exclusively office space.

Half of the leases or amendments in the first quarter were concluded for P3 Prague Horní Počernice, which is one of the largest industrial parks in Central Europe. The second half of the leases included P3 parks throughout the Czech Republic - from Ostrava through Olomouc, Liberec, Plzeň and parks in Prague on the D1, D6, D8 and D11 motorways.