P3 Logistic Parks in 2023: more than 170,000 m² leased and an ideal customer mix

P3 Logistic Parks, a developer, owner, and manager of industrial European real estate concluded 2023 in Romania with transactions totalling more than 170,000 m² in P3 Bucharest A1 industrial park – P3’s highest activity volume recorded in recent years, in the Romanian market.

The client portfolio is its most diverse to date, featuring a strong mix of ideal tenants from sectors such as retail, logistics & distribution, pharma, manufacturing, and others. Approximately 40% of the leased space is occupied by large retailers and FMCG companies, 40% by logistics and distribution companies, while the remaining 20% are rented by companies in sectors including manufacturing, IT, and pharma.

From the total reported leases in 2023, over 150,000 m² were transactions with long-term partnerships and 20,000 m² were from short-term partnerships. Among the long-term partnerships, 77% of the area were prolongations of existing contracts, 25% extensions of leased space within the park, and 5% were new tenants.

Cristina Pop, Head of Asset Management P3 Romania, highlighted the company’s performance in the current context of the industrial sector. She said: “Last year was successful for us; marked by outstanding results, as shown in the transactions signed, including contract renewals, expansions, and the diversification of our tenant mix. The addition of a new sector to our tenant portfolio, focused on light production speaks of the park’s sector-leading electrical capacity of 50MW, which represent a distinct advantage. The plan for 2024 is to focus on maximizing our existing portfolio, advancing our ESG strategy, and continuing to provide excellent customer service.”

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The developer saw strong interest from clients in environmentally-friendly buildings and green energy options, which is reflected in the company’s well-defined ESG strategy. All the buildings in the park are BREEAM-certified “Very Good” for sustainability, with P3 Bucharest A1 being the only institutional industrial park in Romania with smart metering on the electrical side. All spaces benefit from 100% LED lighting solutions. At the same time, the park has separate heating installations for the office and storage areas, for a more efficient energy consumption management and a comfortable and efficient working environment.
In addition, the park’s rail terminal, CFR passenger station, electric car charging outlets for both small cars and trucks, the 50 MW high-voltage station and smart metering systems provide the park with a flexible and adaptable infrastructure for a wide range of industrial, logistics and commercial activities.