Romanian electro-IT retailer Altex has rented a 15,000 sqm warehouse in the logistics park P3 Bucharest, near the A1 highway.

The company has been a tenant of the P3 Bucharest park for 12 years and, with this new rental, it has doubled the surface of its logistics hub from 15,500 sqm to over 30,000 sqm.

P3’s recent development of 90,000 sqm of new space enabled Altex to expand.

Altex, which has 2,000 employees, operates more than 90 stores located in key cities across Romania. The company, which is owned by Romanian entrepreneur Dan Ostahie, posted a turnover of EUR 438 million in 2015, up 30.5% compared to 2014.

Altex is the leader in the local offline electro-IT retail. Its main competitor is Flanco. In the online area, eMAG is the leader.

The industrial park P3 Bucharest was acquired at the beginning of 2015 by P3 from the fund CA Immobilien Anlagen AG. It currently includes 11 warehouses, with a total surface of 305,000 sqm.

editor@romania-insider.com