“It is not atypical to see a flight to quality as economic conditions soften, and this dynamic is increasing in Central and Eastern Europe,” said Ben Bannatyne, managing director of ProLogis.
According to Pierre Kosc, general manager of Geodis Calberson in Romania, this is the third leasing contract signed between the two companies.
ProLogis Bucharest A1 consists of four buildings totaling 108,600 sqm of industrial space, of which 28,000 sqm is A-rated. In addition to Geodis, other customers at the park include Augsburg International Impex, cargo-partner, Centrum Logistics, Flamingo Romania, Gefco, Kuehne+Nagel and Omega Transport & Logistics.
By the time of completion, ProLogis Park Bucharest A1, which is the company's first project in Romania, will deliver 12 buildings totaling approximately 300,000 sqm of distribution space at full build-out.