Dutch developer CTP announced the acquisition of a logistic park owned by Prologis near the A1 highway for EUR 40 million. The former Prologis Park Bucharest A1, now CTPark Bucharest West, has four warehouses which cover 100,000 sqm and 36 hectares of land for future development.
With a 95 percent occupancy rate, the project hosts companies such as Geodis, Cargo Partner, Kuehne Nagel and Gefco, while Quehenberger has recently leased 20,000 sqm here.
“Now is the best time to invest in Romania, a country with an estimated GDP growth of about 4 percent for 2015 and a market of about 20 million inhabitants. Bucharest and other cities in Romania provide the workforce that investors need: qualified, in sufficient number and at competitive costs. In recent years, Romania has significantly improved its infrastructure including its road network, and these positive developments will continue over the next period,” said Remon Vos, CTP CEO.
CTP’s portfolio of Class A industrial space has a leasable area of approximately 3 million sqm and CTP aims to increase this area up to 5 million sqm by 2020.
CTP is a developer based in the Netherlands, providing comprehensive services of delivery and management of custom high-tech business parks. CTP customers are local and international companies looking to form new strategic investments or expand their operations in Central Europe. CTP owns the CTPark Network, the largest integrated premium business park in Central Europe, with over 2.5 million square meters of class A spaces in more than 50 locations. In Romania, it owns 120 hectares of land in places like Madaras, Bors, Pitesti and Cluj.