Helios Phoenix takes over Millenium Logistic Park, expanding the presence in Romania

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Greek developer Helios Phoenix, present in Romania for 20 years, decided to expand its local portfolio by acquiring Millennium Logistic Park, an industrial park located in Popesti Leordeni, the third project of this kind which was taken over on the local market, a press release informs.

The property, which consists of 12,000 sqm of warehouses and 11 hectares of land, will be renamed Olympian Park East Bucharest.

This will become the third industrial park that industrial developer has in Romania, after Olympian Park in Brasov and Timisoara, both managed by Colliers International. Currently, Millennium Logistic Park is leased to Autonet and Sarantis.

“The acquisition of Millennium Logistic Park is a proof of the confidence we have in the industrial market in Romania, for which we have plans of further development. This new industrial park adds 30 percent to our current portfolio, which comes to almost 80,000 sqm of warehouse space. Moreover, we already have advanced discussions to extend the new project – Olympian Park East Bucharest,” Athos Myrianthous, development manager Helios Phoenix stated.

According to the latest Colliers International report, the current stock of logistics spaces in Romania is 3 million sqm and will grow by 500,000 sqm this year (about 17 percent), marking the highest rate of post-crisis deliveries. About 80 percent of new deliveries are expected in the Bucharest area, and the interest is also growing in other major cities in the country.

This might be of interest to major processing plants due to highway project in Transylvania, which could set a fast transit route.

 

 

 

 

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