Profi, one of the largest retail chains in Romania, expands its logistic activities by contracting two new projects in Timisoara (58,000 sqm) and Craiova (57,000 sqm), which will be developed and rented out by the Belgian logistics real estate expert WDP. JLL has advised Profi in both transactions, thus continuing the partnership started few years ago, which resulted in 250,000 sqm of logistics spaces contracted in Bucharest, Roman, Cluj, Craiova and Timisoara.
These transactions are the two largest witnessed by the industrial market this year and come in a moment when retailers are focused in streamlining their distribution activities as much as possible by establishing hubs in the main areas of the country to address better and quicker the retail network needs.
“The two projects are part of Profi’s strategy to expand Romania’s operational logistics and geographical coverage in step with the network’s future aggressive development,” said Profi CEO Pawel Musial. “Also, the projects are part of the modern trend in retail which consists in bringing under one roof all the storage areas needed (ambiant, refrigerated, frozen). This concept is guaranteeing the quality and freshness of the products that the end user will find in the store.”
With over 1,250 stores in 571 locations and a team of over 20,000 employees, Profi is the retail chain with the largest geographical presence in Romania.
”If Timisoara is already a developed industrial area, the project in Craiova represents the first greenfield logistic investment in the region, like the other Profi centers in Cluj and Roman. We are honored for having assisted Profi on these transactions and at the same time we are glad for finding WDP as partner for the realisation of this project (representing an investment budget of around EUR 70 million) that will be leased by Profi, taking into account these unprecedented times”, said Viorel Opaiț, business developer director JLL Romania, who represented Profi.
JLL is a leading professional services firm that specializes in real estate and investment management, a Fortune 500 company with annual revenue of USD 18 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019.