The transaction was brokered by JLL Romania
P3 Logistic Parks (“P3”) expands the P3 Bucharest A1 community by signing a new lease with World of Hand Tools, part of the international holding ToolsWorld. The transaction involves the lease of 5,850 square meters of logistics and office space and was brokered by JLL Romania.
Sînziana Pardhan, Managing Director P3 in Romania, stated: ”Over the past couple of years a number of 12 new clients have joined our logistic park, and we are excited to expand P3’s community in Romania by the presence of another strong partner such as World of Hand Tools. We would like to thank our new tenant for choosing P3 Bucharest A1 as the main center for its distribution operations in the country. Due to Romanians’ increased appetite for DIY activities, the tools and hand tools segment has registered, lately, a significant growth. Moreover, this year, when an entire world has made a leap from office buildings to home offices, a big emphasis has been on transforming the home, garden or terrace into spaces that can functionally and aesthetically accommodate the new way of living. We would also like thank JLL’s team, which successfully completed this transaction.”
Octavian Siman, Managing Director World of Hand Tools, declared: ”Four years ago, in 2016, World of Hand Tools Group was signing its first agreements with large retail chains present on the Romanian market. One year later, in 2017, we were opening our first sales office here. Today, almost four years following the first contact with the local market, our products can be found in 1500 locations in the country. In the last two years we have considerably developed our operations at a national level, on all three IKA sales channels, clasic retail and, of course, on the online sales segment. The decision to establish a new distribution center in Romania comes as a natural step in consolidating our position in the region, and the privileged location, together with the quality of storage spaces and the facilities that P3 Bucharest A1 offers, only reconfirms us that we have made the right choice.”
Ionuț Grigoraș, Consultant Industrial Department JLL Romania, added: ”This transaction is the result of teamwork, which helped identify the best solution for the company’s business development in Romania. The trust that our client has given us in this process is the result of the good collaboration that we have had over the past four years. We are happy to contribute, once again, to the very good performance that the logistics and industrial market in Romania has registered this year. The evolution of the market is based, on the one hand, on the tenants’ need for additional spaces, and on the other, on their concern to relocate to a more modern space, built in accordance with the highest development standards, as is the P3 Bucharest A1 project.