P3 acquires land for new logistics park in Spain

European logistics real estate company P3 has acquired a large plot of land in Illescas, Spain, to build a new logistics park called P3 Illescas Norte.

Plataforma Central Iberum Norte

This development will span up to 125,000 m2 and offer flexible, modern warehouse and office spaces suitable for various tenants, including large storage and distribution centres.

The project emphasises sustainability and occupant well-being, aiming for BREEAM Excellent and WELL Ready certifications. It will feature renewable energy, LED lighting, and advanced fire safety systems. Strategically located near Madrid in a key logistics hub, P3 Illescas Norte offers excellent connectivity and access to a skilled workforce, making it ideal for e-commerce, retail, and 3PL operators. This new venture further solidifies P3's position as the leading logistics property owner in the Illescas region.

The construction schedule will be activated in the medium term, once the needs of future tenants are defined, while urbanisation and planning works will begin shortly. This operation has been supported by Urban CM as the urban developer and the law firm Pérez-Llorca.

The property is located in Plataforma Central Iberum Norte, a key logistics centre in Spain. It's in Madrid's Southern Corridor, about 40 minutes from the city, and has excellent access to major highways like the A-42, AP-41, and CM-41. P3 Illescas Norte is a rapidly expanding logistics hub in Iberia, ideal for e-commerce, retail (especially Asian companies), 3PL operators, and light industrial businesses needing storage.

P3 currently owns six assets in the area, with a total leasable area of over 250,000 m², making it the largest logistics property owner in the region.

Javier Mérida, general director of P3 in Spain, noted: “With P3 Illescas Norte, we respond to the growing demand for large logistics platforms in the region from a prime location such as Plataforma Central Iberum Norte, destined to become one of the country’s major logistics hubs. This project reflects our commitment to large-scale, turnkey developments that are efficient and high-quality, designed to precisely meet the operational needs of each client”.