CTP, a leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, acquired the Phoenix Logistics Center west of Bucharest for EUR 7 million, the group announced.

The transaction took place in the second quarter of 2017 and Dutch company LSREF3 Alpha Dutch Holdings was the seller.

Phoenix Logistics Center (PLC), which is located in Chiajna, was integrated in CTPark Bucharest, and CTP will invest EUR 1.5 million in refurbishing it. PLC has a total surface of 43,000 sqm, out of which 21,000 sqm lettable area, and is fully leased to German transport and logistics group DB Schenker.

“We are set on increasing our stock of logistics and industrial spaces in order to reach a total leasable area of approximately 1 million sqm in Romania by the end of 2018,” said Ana Dumitrache, Co-Country Head of CTP Romania.

“The demand is high and I am very optimistic that we will accomplish this target and even exceed it,” she added.

CTP currently owns 700,000 sqm of warehouses in ten cities: Arad, Bucharest, Cluj-Napoca, Deva, Pitesti, Sibiu, Timisoara, Turda, Ineu and Salonta.

CTP to build almost 500,000 sqm of logistics space in Romania next year

editor@romania-insider.com