CTP acquired Phoenix Logistics Center for approximately EUR 7 million

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CTP, the leading premium industrial parks developer and long-term manager in Romania and Central and Eastern Europe, registered the fastest development pace in 2017, since it entered the Romanian market. CTP expanded its portfolio in the country and in the vicinity of Bucharest where they own three properties: CTPark Bucharest, CTPark Bucharest West and CTPark Bucharest North (former Chitila Logistic Park). One of the most important purchases near the capital is, next to Chitila Logistic Park, Phoenix Logistics Center, that was bought with approximately 7 million euro from the Dutch company LSREF3 Alpha Dutch Holdings B.V., in the second quarter of 2017.

Phoenix Logistics Center (PLC) was integrated in CTPark Bucharest and is located in Chiajna, at the crossroad between A1 motorway and “Centura” ring road, at only 10 kilometres distance from the Bucharest’s city centre. PLC has a total surface of 43,000 m², out of which 21,000 m² lettable area. The rentable areas are ideal for storage, logistics, distribution and light industry activities. PLC is fully leased at the moment to DB Schenker, the world’s leading global logistics provider that supports industry and trade in the global exchange of goods through land transport, worldwide air and ocean freight, contract logistics and supply chain management.

EUR 1.5 million investment in the refurbishment of Phoenix Logistics Center. The developer’s plans for the logistics park in Chiajna include an upgrade and refurbishment throughout the park. The total investment for these processes is estimated to reach circa 1,500,000 euro and will take place in two phases: in the first stage, CTP performs adaptation works in order to meet the ISU standards (fire hydrant installations, emergency lighting system, exhaust system, fire protection systems etc.). The second phase will consist in refurbishment works such as: the replacement of the lighting system with Smart LED technology, and the rehabilitation of the sewage and wastewater treatment systems etc. The first stage started right after the purchase and will be finalized this month and the second phase will begin next year.

„We are decided to increase our stock of logistics and industrial spaces in order to reach a total leasable area of approximately 1 million m² in Romania by the end of 2018. The demand is high and I am very optimistic that we will accomplish this target and even exceed it. Phoenix Logistics Center has an ideal location for a logistics park: extremely close to the city centre and with very good commercial exposure due to the direct access to A1 motorway and the city ring road”, explained Ana Dumitrache, Co-Country Head of CTP Romania.

Phoenix Logistics Center has spaces for storage activities and also office spaces with all the related services. Among the characteristics of the warehouse there are: a clear height of 10 m, high load bearing capacity of the floors of 5t/ m², sprinkler installation, 7 sectional doors and 38 loading docks.