Following a total €160 million development investment by CTP, this further expansion at the park is expected to push its total GLA past the 200,000 sqm milestone by year-end, due to exceptionally strong tenant demand.
CTPark Bucharest North is located in Stefanesti – Afumati, an established logistics hub, on the northern Bucharest Ring Motorway, close to the A3 highway and National Road 2 (DN2). The park’s proximity to the city and a skilled local workforce have attracted several leading e-commerce companies to the location including the online supermarket sezamo.ro (Rohlik Group – the leading European e-grocery retailer), Mobexpert (Romania’s largest furniture and accessories distributor), Micul Fermier (home and garden tools and equipment) and Boutique Mall (fashion and accessories). Romania has experienced the fastest average online shopping growth among all the main economies in Central and Eastern Europe at 27% in the past five years, ahead of the Czech Republic and Croatia, both at around 25%.
Ana Dumitrache, Country Head, CTP Romania, said: “In response to strong demand from both existing and new tenants we continue to deliver premium industrial and logistics space within our CTParks in Bucharest and other locations in Romania. At CTPark Bucharest North in Stefanesti – Afumati, we have already constructed and successfully leased over 116,000 sqm. As the speed of leasing in this first phase exceeded our initial expectations, we have pushed forward plans for another 94,000 sqm which is currently under construction and will consolidate the location as a major destination for e-commerce and wholesale logistics and more. Our investment in CTPark Bucharest North will reach over EUR 160 million this year, once we fully deliver what we have under construction, and it will become CTP’s third largest park in Romania.”
CTPark Bucharest North offers flexible options for medium and long-term leases, from 500 sqm in the new CTFlex buildings, up to 40,000 sqm in the large scale CTSpace facilities. The park covers various industrial and logistics types of spaces, from controlled temperature to dedicated areas for e-commerce. CTP plans to expand CTPark Bucharest North with new projects, including a multifunctional Clubhaus, which will contribute to the quality of life for all the people working there.
Beside CTPark Bucharest North, CTP owns another five industrial parks around the Romanian capital including in the west (CTPark Bucharest West and CTPark Bucharest, on the A1 highway) to the north (CTPark Chitila and CTPark Mogosoaia) and to the south, in Popesti – Leordeni (CTPark Bucharest South).
CTP has a total area of over 2.1 million sqm of class A warehouses in 15 cities in Romania including: Arad, Brasov, Bucharest, Cluj-Napoca, Craiova, Deva, Oradea, Pitesti, Sibiu, Targu Mures Timisoara, Turda, Caransebes, Ineu and Salonta. By the end of 2022, the total GLA covered by CTP properties in the Romanian market is projected to grow to at least 2.5 million sqm.
CTP is Continental Europe’s listed largest owner, developer and manager of logistics and industrial real estate by gross lettable area, owning over 9.3 million sqm of space in ten countries per 31 March 2022. CTP is the only developer in the region with its entire portfolio BREEAM certified and became carbon neutral in operations in 2021, underlying its commitment to being a sustainable business.
