P3 Logistic Parks (“P3”) has announced it leased out, in the first half of 2020, a total of 58,637 square meters of logistic and office space to clients such as Gebrüder Weiss Romania, Interbrands Marketing & Distribution, Logwin or Just Master Activities. Of the total number of transactions, 52% of the surface (30,466 m2) is represented by new long-term contracts, 38% are prolongations of existing contracts (22,420 m2), and the remaining 10% (over 5,700 m2) are short-term leasing agreements.
Two of the company’s partnerships with some of the long-term tenants have been consolidated this year: Gebrüder Weiss Romania prolonged, at the beginning of 2020, its lease contract for the 22,420 square meters of logistic and office space it occupies within P3 Bucharest A1. With an experience of 25 years on the local market and an infrastructure of 9 logistic hubs, Gebrüder Weiss Romania offers intelligent logistic solutions for its customers and provides flexible distribution services by road, rail, air and sea. Likewise, Interbrands Marketing & Distribution, one of the most prominent companies in the field of distribution and marketing of consumer goods in Romania and tenant of the park since 2006, chose to relocate to a broader space, thus expanding its total leased area to 24,830 square meters of logistic and office space.
Furthermore, in the first half of this year, the tenants portfolio of P3 Bucharest A1 park was extended by two new companies: Logwin – a specialized provider of logistics and transport services for the lifestyle industry, especially retail and fashion, which lease a surface of 2,350 square meters used for consolidating its operations related to clothing and accessories and Just Master Activities – an import and distribution company with a strong presence in the FMCG market in Romania, distributor of mass-market cosmetics who leased a total area of 3,200 square meters.
Sînziana Pardhan, Managing Director P3 Romania, states: ”Despite the challenging times we are currently facing and the overall feeling of uncertainty dominating the business environment, when drawing a line the first half of the year has brought gratifying results for P3 Bucharest A1 Park. We are honoured, and we would like to thank our long-term partners for the vote of confidence they have given us by extending our collaboration and welcome the new tenants to our community. Over the past couple of months, we have seen some of the deals that got postponed during the lockdown period resurface again, and this is a sign that makes us cautiously optimistic when looking towards the leasing activity for the second half of the year.”
P3 Bucharest A1 park is the largest multifunctional park in Bucharest, having 380,000 m2 developed in 14 warehouses and a land bank with potential of delivery 100,000 m2.