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P3 Logistics Parks takes over 160,000 sqm area in Padua for its second greenfield development in Veneto

P3 Logistics Parks takes over 160,000 sqm area in Padua for its second greenfield development in Veneto

P3 Logistics Parks, a real estate developer and owner of logistics properties based in Prague and fully owned by the Singapore government’s sovereign wealth fund GIC, has acquired a 160,000 square meter plot of land in Cittadella (Padova), Italy, as reported by Bebeez.

They plan to build a large warehouse with modern sustainability features, including a photovoltaic roofing system. The location is strategically positioned, benefiting from direct access to major logistics corridors and a new Venetian superhighway.

P3 has been expanding its presence in Italy, and in 2022, its portfolio increased significantly, reaching 670,000 square meters with a nearly 100% occupancy rate. The company serves well-known clients such as Mercedes, Ikea, Carrefour, Airbus, PepsiCo, and DHL.

The acquisition in Cittadella reinforces P3’s strategic presence in the Veneto region, and the company believes the site’s unique characteristics, accessibility, and flexibility will attract various local and international tenants.

P3’s recent investments include a new distribution center for Amazon in Rome and another in San Salvo, Chieti, both focused on sustainable development. The company experienced a leadership change in 2021, with Frank Pörschke appointed as the new CEO. Under his leadership, P3 is transitioning to the next phase of development and expansion.

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