CTP has leased 9,900 sqm of logistics space to Gartner Intertrans Hungaria Kft, one of Hungary’s largest international transport companies with operations across Europe at CTPark Budapest Vecsés.
CTPark Budapest Vecsés is located to the southeast of Budapest, with the park also offering Gartner Intertrans the opportunity to expand into more space there in the future. 600,000 sqm of additional land is available for development at the park, providing the option for CTP to deliver a further 260,000 sqm GLA of logistics space to support new or existing clients looking to expand there. The total GLA at CTPark Budapest Vecsés is expected to grow to around 350,000 sqm in the future.
The deal with Gartner Intertrans provides further evidence that the rapidly growing economies in Hungary and across Central and Eastern Europe (CEE) are continuing to drive demand from third-party logistics (3PL) occupiers such as Gartner Intertrans that handle supply chain functions for businesses.
CEE nations have become robust manufacturing bases for international businesses driven by a multitude of factors including infrastructure investments from the EU boosting their connectivity to Western Europe and multinationals looking to de-risk their supply chains by ‘nearshoring’ their production from locations such as Asia to be closer to their European customers. In Hungary, demand for industrial and logistics space is also being driven by government policy, with a target in place to increase Hungary’s share of manufacturing to 30% of GDP by 2030.
CTPark Budapest Vecsés is a highly sustainable logistics park, home to Hungary’s second-ever BREEAM Outstanding In-Use rated building for its exceptional environmental and energy performance credentials. The park’s sustainability features include heat pumps for all buildings, excellent insulation and building materials that reduce client energy bills, LED lighting and roofs designed for PV panel installation. CTP’s Parkmaker model is also at the heart of CTPark Budapest Vecse’s design, ensuring it goes far beyond providing logistics space alone to function as a thriving business ecosystem.
Bogdán Róbert – Managing Director of Gartner Intertrans commented: “CTPark Budapest Vecsés is ideally located to support the growth of our business as we provide transport and logistics solutions to our clients throughout Europe. CTPark Budapest Vecsés sustainability credentials were also highly important to us, because occupying real estate that minimises the impact we have on the environment is not only important to us but to our clients, with us forming key parts of their supply chains. We were also attracted by CTP’s flexibility and willingness to support both our immediate and long-term expansion plans by being ready to provide space that suits our requirements at CTPark Budapest Vecsés and potentially other locations we can grow into.”
Ferenc Gondi, MD for CTP Hungary, commented: “We welcome Gartner Intertrans to CTPark Budapest Vecsés. They are a new client joining our community for the first time and we look forward to developing our relationship with them to support their growth now and in the future. A third of all new leases we sign across our portfolio are with existing clients, and this is because we grow with them to understand their business, provide the space they need and manage it on an ongoing basis.”
Bordering seven countries in the heart of the CEE region, Hungary’s optimal geographic location has attracted significant FDI inflows in recent years. The country has a tradition of logistics and one of the highest densities of trans-European transport networks in Europe. Hungary’s low corporate income tax and relatively limited bureaucratic red tape also make it a business-friendly location for investors.
