A 10,000 sqm logistics center in Serbia leased by Phoenix Group has been acquired by CTP. The real estate agency complexRE acted on the side of the buyer in the deal for the building, which was developed by a local Serbian group in the Šimanovci industrial zone. The site is located near the Belgrade Airport and is being used by Phoenix, an international pharmaceuticals company, to service its operations in Central and Eastern Europe. The site is also attractive because of its proximity to the main roads leading to Budapest, Sofia and Zagreb, allowing Phoenix to distribute to Serbia, Bosnia and Herzegovina, Macedonia, Montenegro, Albania and Kosovo. Jiří Suremka, partner at complexRE, says his team in Serbia found the property and set up an off-market deal. “The Serbian market is quite undeveloped still, so it has real potential. But this means you don’t have too many A class buildings and it’s not easy to find them.”
