Pan-European logistics property investor-developer P3 had a very good start to 2017 and performed strongly throughout H1, starting construction of three new warehouses – a total of 65,000 sqm at P3 Bucharest park plus signing a number of new leases and agreeing renewals with some of its long-term customers on a total of 84,000 sqm, a press release informs.
P3 has agreed a lease renewal with eMAG on 43,000 sqm of space on the park. Romania’s largest online retailer is also taking an additional 15,000 sqm in a new building, increasing the total size of its space on the park to over 100,000 sqm.
Tibbett Logistics, the Romania-based transport, intermodal and contract logistics specialist (part of The Keswick Enterprises Group), has signed a new long-term lease on an additional 5,000 sqm of space. It now operates a total of 38,400 sqm of warehousing at P3 Bucharest park – providing capacity for some 44,000 pallets, plus a large daily throughput of cross-docked merchandise.
Another long-term P3 partner, Macromex has been an occupier at P3 Bucharest for over 10 years. It has signed a lease extension on 7,100 sqm of space.
“It has been exciting to see so many of our key partners continuing to grow their operations at P3 Bucharest this year. Demand from tenants remains strong and we see a widening of the types of requirements we receive for our park, both in terms of scope and size. We continued our expnasion of the park and by the end of 2017 we will have delivered a further 65,000 sqm in 3 new A class buildings, while gearing up for further deliveries in 2018”, said Sinziana Pardhan, Country Head for P3 in Romania.
P3 currently has a total of 319,000 sqm in 12 warehouses at P3 Bucharest park. P3 has recently completed three new buildings at P3 Bucharest park and is also looking to expand in Bucharest as well as central and western parts of the country.