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March 23, 2023

P3 Logistic Parks leased out over 35.800 m2 of logistics and office space in Q1, 2021

P3 Logistic Parks (“P3”) leased out in Romania, in the first quarter of the year, over 35,800 square meters of logistics and office space. Out of the total number of leased square metres, more than 36% (>13,000m2) are represented by new leases, and approximately 63% (> 22,500) are extensions of existing contracts, a press release issued by the company informs.

The retention rate within the park continues to be high, as four of the existing long-term partnerships have been further consolidated starting the beginning of the year. Moreover, due to the strategic positioning of the P3 Bucharest A1 park, but also to the complexity of services and facilities offered, P3 manages to attract, year-on-year, new clients interested to establishing their distribution hub within the park’s perimetre.

Sînziana Pardhan, Managing Director P3 Romania, states: ”We have concluded the first months of the year in a positive note and I am happy to see that not only our client retention rate is 100%, but also that our efforts to implement new facilities in the park have been very well received by our tenants. These are good results and make us feel confident and encourage us to continue on this path of further consolidating and differentiating our existing assets by adding new services and integrating more sustainable elements that will lead to an improved working experience for all our tenants and their employees.”

The developer is pushing hard to accelerate its contribution to the decarbonization of the industrial-logistics sector by promoting and integrating sustainable elements within its locations, aligning to global trends and directives, and constantly investing in consolidating its services and modernizing existing spaces: 90% of P3’s local portfolio is already equipped with lighting technology LED, and a series of projects are currently being implemented to streamline the consumption of water and gas inside the buildings. Moreover, P3 Romania recently inaugurated within its park at km 13, A1 motorway, the first two fast-charge charging stations for electric vehicles, with a simultaneous charging capacity of up to four cars. The project is available to the general public and can be extended and adapted according to the requirements and needs of P3’s tenants.

P3 Romania focuses on remaining one of the most desirable owner-developers and managers of logistics spaces in Bucharest for companies active in the retail, e-commerce and logistics segments, as well as for the players in the DYI, finishes and construction materials fields, while exploring new ways to expand its existing services and increase the energy and operational efficiency within the buildings it administers.

With a leasable area of 380,000 sq. m. displayed over 14 warehouses, direct access to the A1 motorway, the ring road and the pan-European corridor IV, a self-service restaurant with 200 indoor seats and own terrace, railway terminals for freight and passengers and a hostel soon to be completed, P3 Bucharest A1 is the most complex industrial park in Romania.

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