Real estate developer announces 300,00-sqm pipeline of logistics parks

Element Industrial announces the completion of the first phase at Eli Park 1 Chitila. The warehouse, with an area of 20,000 sq.m, is rented to Turkish-based appliances producer, Arctic. The company has already begun its operations in the new logistic space.

“Our target is to reach Top 5 logistic developers within the next three years, on the Romanian market”, Muler Onofrei, CEO & Co-Founder, Element Industrial, said, adding: “We are now working at the concepts of two new parks in Bucharest, in Craiova Eli Park 4 is planned, in Targoviste Eli Park 5 and in Timisoara Eli Park 6, a total pipeline of 300,000 sqm of class A logistic spaces, for the following three years.”

Eli Park 1 is a logistic park with a GLA (gross lettable area) of 50,000 sqm. The first phase of 20,000 sqm was delivered this summer, and the second phase, with an area of 30,000 sqm is planned for spring 2020, one of the tenants for the second phase being Paste Baneasa. The logistic project is served by several public transportation lines and is located at a distance of 4 km from Bucharest Ring Road, with direct access to a national road with four lanes, DN 7. The main advantages are easy access to northern Bucharest and the location in an area with workforce surplus, (Chitila / Buftea). ELI PARK 1 is developed in joint venture by Element Industrial and Dedeman Group in Chitila-Buftea area, which is transforming in a new proximity logistic hub for Bucharest. The project is financed by Unicredit Bank.

All the projects developed under ELI PARKS brand are designed and executed following class A international standards, with characteristics such as one loading bay for each 800 sq. m. of warehouse, generous 35 meters truck court and numerous parking places.