Logicor completes 44,000 sqm Bucharest property development
23 Oct 2017
LOGICOR, THE LEADING OWNER AND OPERATOR OF LOGISTICS PROPERTIES, HAS COMPLETED THE DEVELOPMENT OF A NEW 44,000 SQM LOGISTICS WAREHOUSE IN BUCHAREST, ROMANIA.
The newly constructed warehouse, called Building C, forms part of Logicor Bucharest I distribution park, in Mogosoaia. The distribution park comprises three buildings with a total 82,900 sqm of warehouse space and is located 10km from the centre of Bucharest. Strategic transport connections include the DN2 road (3km) and international airports (Otopeni & Baneasa, both 8 km).
Building C is currently 85% pre-let on a long-term basis to international customers including IKEA and Heineken, as well as leading pharmaceutical and FMCG companies.
On top of the three existing buildings, Logicor Bucharest I has new development potential of approximately 64,000 sqm. In addition to Bucharest I, Logicor has development land in Brasov, Sibiu, Glina, Bucharest and Timisoara.
Bartosz Mierzwiak, Managing Director of Logicor for Central & Eastern Europe, said:
“The Romanian logistics and industrial real estate is now the most dynamic region in Central and Eastern Europe with a steadily decreasing vacancy rate. Logicor is well positioned to respond to increasing demand of our current and future clients for new logistics spaces in excellent locations.”
Logicor is one of Europe’s largest logistics real estate specialists with a 13.6 million sqm portfolio spanning 17 countries. The pan-European strategy is underpinned by offices in 12 of the continent’s core markets, including the UK, France and Germany.
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