P3 starts 20,000 m2 project near Prague

PointPark Properties (P3) has started construction of a 20,000 m2 Build-To-Suit (BTS) project for international logistics company Yusen Logistics at its PointPark Prague D1 location.

In a statement, the company noted the 20,000 m2 project is one of the few BTS developments of this type currently underway in Central and Eastern Europe.

'Speculative development of logistics warehouses in Central Europe has been notable by its absence in the last few years due to the difficult economic situation,' said Peter Beèár, managing director Czech Republic and Slovakia for P3.

Yusen Logistics offers air and ocean freight forwarding and contract logistics services from 1.87 million m2 of warehouse space in 406 locations and 37 countries.

The new building in PointPark Prague D1 is pre-­leased to Yusen Logistics and is due to be completed by the summer of 2013.