Element Industrial, a local real estate developer, has completed the first phase of the logistics park ELI PARK 1 in the northwest part of Bucharest (Chitila).

The warehouse, with an area of 20,000 sqm, was rented to appliance producer Arctic, part of Turkish group Arcelik, which has already occupied the space assigned.

“Our target is to become one of the top five developers of logistics parks on the Romanian market,” said Muler Onofrei, CEO & Co-founder Element Industrial.

The real estate developer has a pipeline of 300,000 sqm industrial parks to be developed over the next three years. It is designing two new parks in Bucharest, one in Craiova (ELI PARK 4), one in Târgoviște (ELI PARK 5), and one in Timișoara (ELI PARK 6).

ELI PARK 1 is a logistics park with a 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 of these warehouses being the bakery products Paste Baneasa. Earlier this year, Element Industrial signed a partnership with Romanian group Dedeman for the second phase of the project in Chitila.

editor@romania-insider.com

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