Altex stores up growth with P3 – EuropaProperty

Altex, one of the largest electronics, home appliance and multimedia retail chains in Romania, has signed a new lease on 15,000 sqm of warehouse space at P3 Bucharest park. The deal will double the size of its logistics hub, accommodating the needs of its growing business.

Altex previously occupied 15,500 sqm in an existing warehouse. Now it is taking a further 15,000 sqm in the newest building at the P3 park to occupy a total of more than 30,000 sqm on the park.

The Romanian retailer is now one of the 40 percent of P3’s global customers that occupies more than one building with P3.

Altex, which has 2,000 employees, operates more than 90 stores located in key cities across Romania. The chain is expanding fast, adding a number of new retail locations. As a result it needed new logistics space that enables it to maintain increased stock levels. This will reduce delivery times and increase flexibility, which will lead to improved turnover.

“Altex has been a part of P3 Bucharest park for 12 years. Its business is thriving and I’m pleased that P3 has been able to support its continued growth. In choosing to expand at P3 Bucharest park, Altex will benefit from our commitment to building high quality warehouse space, reducing operational costs and providing outstanding customer service,” said Blake Horsley, Country Head of P3 Romania.

P3’s recent development of 90,000 sqm of new space enabled Altex to expand. Like all new P3 buildings, this warehouse exceeds European environmental standards and delivers operational savings through sustainable technology solutions. It also offers 11.5 m clear height, higher than the majority of industrial stock in Bucharest.

P3 currently has a total of 305,000 sqm in 11 warehouses at P3 Bucharest park. It is located just 13 km from the city centre, P3 Bucharest park is on the city ring road, which provides easy access to all six Bucharest districts, Henri Coanda International Airport (22 km away) and the A2 motorway. P3 has recently completed three new buildings at Bucharest park and is also looking to expand in Bucharest as well as central and western parts of the country.