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March 23, 2023

Polish group Citronex opens its second distribution center in Romania

Polish group Citronex, one of the world’s largest banana importers and distributors, has leased 4,000 sqm of warehouse in MLP Bucharest West, a transaction assisted by Dunwell, the biggest real estate agency specialized in the industrial sector in Romania.

Through this transaction, Citronex inaugurated its second distribution center in Romania, after the one opened last year of 2,500 sqm warehouse in Timisoara, a deal also assisted by Dunwell.

“Romania keeps its trend of being an attractive market to foreign investors. After their entrance on the market in 2018, Citronex’s successful business growth in Romania has led them to seek new opportunities in our country. We are excited that we have succeeded in finding the best solution, within MLP’s project in Western Bucharest, and in attracting such an important investment locally”, said Daniel Cautis, managing partner Dunwell.

MLP Group has started the construction of their first logistic park in Romania at the beginning of 2019, in the western part of Bucharest, a project consisting with a totally projected construction of 99,000 sqm of lettable area.

Dunwell and MLP Group have already sealed their second successful transaction in Bucharest. In the third quarter, the consultancy agency secured MLP’s first tenant – Marelvi – one of the biggest distributors in Romania, who had leased 8,400 sqm of warehousing – almost a third of the first phase of the project (22,000 sqm) that has already been constructed.

“The tenants analyze with great attention to details the projects they intent to lease, especially the Class A ones, which benefit from a great position and connection to the infrastructure, and also higher safety levels. This is the reason why investors and real estate developers have aligned to the latest construction requirements, so that the newly built projects will benefit from the most modern standards”, added Daniel Cautis.

Dunwell estimates that the industrial volumes transacted this year will be similar to the ones in 2018, and will exceed 500,000 sqm, both through agencies, but also directly with the developers. In H1 2019, Dunwell has intermediated over 45,000 sqm of industrial spaces and by the end of this year it is expected to exceed 100,000 sqm of transacted industrial spaces.

The total modern stock of industrial spaces in Romania exceeded the 4 mln. sqm threshold, while the potential development announced at the beginning of this year could reach approximately 700,000 sqm of new industrial spaces.

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