The industrial property developer P3 has pre-let 37,300 sqm of warehouse space at its P3 Kamen park in the Ruhr region of Germany to a major local logistics company. Construction on the 43,500 sqm first phase got underway at the beginning of March and the recently announced deal means it’s already 80 percent leased. The project is replacing outdated industrial buildings on the 24 hectare site where 120,000 of warehouse space is to be built. Jürgen Diehl, P3’s Managing Director in Germany said: “The Ruhr region is one of the most strategically important areas on the European logistics map. As a result, we were happy to progress with the development of the first phase of P3 Kamen on a speculative basis.”
