Pan-European logistics property investor-developer P3 continues the expansion of their logistic park in Bucharest. The company acquired over 17 ha of additional land next to P3 Bucharest Park with the intention to grow the park to 500,000 sqm over the next two years. The new land, being part of the biggest logistic park in Bucharest, also allows P3 to build a up to 100,000 sqm large warehouse.
As part of its development strategy, P3 bought this additional land near P3 Bucharest Park, to be able to accommodate growing demand from existing and new clients and satisfy their logistic needs.
“P3 is committed to growing its business in Romania and this acquisition is yet another step towards realizing our strategy and consolidating our position in the market. P3 Bucharest Park is the largest logistic park in Romania with over 2500 people working in our 370,000 m2 of warehouse and office space. We plan to continue the park’s development in a sustainable manner and maintain its leadership position through our focus on both growth and quality”, says Sinziana Pardhan, Country Head P3 Romania.
This year, P3 has become one of the first specialist warehouse developers in the world to be an active Participant in the United Nations Global Compact, the world’s largest corporate sustainability initiative. The Compact, which has more than 12,000 signatories in 170 countries, aims to mobilize a global movement of sustainable companies. It calls on businesses to align strategies and operations with 10 universal principles on human rights, labor, environment and anti-corruption. It also requires companies to take strategic actions to advance broader societal goals, such as the 17 UN Sustainable Development Goals, with an emphasis on collaboration and innovation.
P3 currently has a total of 370,000 sqm in 14 warehouses at P3 Bucharest Park and 100,000 sqm for further development. Located just 13 km from the city centre, P3 Bucharest Park is on the city ring road, which provides easy access to all six Bucharest districts, Henri Coanda International Airport (22 km away) and the A2 motorway. P3 is also looking to expand in Bucharest and in the central and western parts of the country.
Pop&Partners have advised P3 throughout the negotiation process for this acquisition.