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P3 buys Dutch project as part of European acquisition plan

Prague-headquartered industrial property specialist P3 Logistic Parks has forward bought a 98,000 sq m warehouse in the south east of The Netherlands from developer Dokvast Projects.

The asset, which is located in the Echt-Susteren region close to the Dutch borders with Belgium and Germany, will target 3PL and ecommerce companies, P3 said.

Dokvast, which in turn bought the 136,000 sq m plot from Ontwikkelingsmaatschappij Midden-Limburg, is targeting a BREEAM Outstanding sustainability rating. Plans include solar panels on the roof. Completion is expected in late 2021.

“In order to further drive our growth in Europe, we are currently focusing on the acquisition of large, investment-grade European logistics portfolios or attractive single assets,” said P3’s chief investment officer Otis Spencer.