P3 broke ground on a new 28,000 sqm warehouse at P3 Bucharest Park. Completion is set for April. The developer acquired the 40 ha logistics park earlier this year. The park can accommodate an additional 150,000 sqm. P3 Bucharest Park is located at the entrance of the Bucuresti- Pitesti highway and currently includes eight buildings. Tenants include Altex, Emag and Carrefour.
“The rapid growth of the logistics market in Romania has resulted in a tremendous demand for storage areas, which led to a lower vacancy rate of just 5 percent in the Bucharest area,” said Ian Worboys, the CEO of P3. “By building this unit, we can provide spaces immediately available for our customers and build-to-suit solutions.”
