The evolution of CTPark Bucharest West in Romania as the pre-eminent regional distribution logistics centre in southeastern Europe and beyond has been further boosted with CEE’s fastest-growing fashion retailer, LPP, leasing a 65,000 sqm facility at Europe’s biggest industrial and logistics park by area. The deal represents the first partnership between Poland’s LPP and CTP in Europe, where Romania represents the second largest market in CTP’s 9.9 million sqm portfolio by gross lettable area (GLA).
Amsterdam-listed CTP is the largest owner, developer and manager of logistics and industrial real estate in continental Europe by GLA.
Sebastian Sołtys, vice-president of LPP Logistics, said: “The Romanian market has remained one of the key ones in terms of LPP’s business development for several years now. In just 2.5 years, the number of LPP-branded stores in the country has doubled – from 59 at the end of 2019 to 118 at the end of the first half of 2022. Taking this into account, the decision to lease a new warehouse facility in Romania to service the LPP sales network was a natural direction for us. This will be our second warehouse facility in the country, so we are confident that our knowledge of the market and local conditions will allow us to further boost our potential as a logistics operator in the region”.
The LPP centre will be located in a newly built monoblock building (with no partition walls) which, upon completion, will be one of the largest of its type in Romania measuring some 160,000 sqm of GLA. CTPark Bucharest West spans an area of approx. 770,000 sqm and is located on the A1 highway around 23 km from the Romanian capital. The park offers a high-quality working environment for its tenants and over 2,000 employees and, with facilities including a restaurant, coffee shop, medical services, leisure & entertainment areas, green space and bicycle paths, also serves as a community hub for neighbouring districts. A supermarket and sports ground are planned for future expansion phases while the bicycle paths will be extended.
Ana Dumitrache, Country Head of CTP Romania, said: “Since 2020 we’ve had regular year-on-year openings of major distribution centres across our Park, and CTP’s new partnership with LLP comes hot on the heels of the signing of a 50,000 sqm lease with a major logistics group in late 2022 at CTPark Bucharest West featuring a new regional distribution hub for its retail client. This second major leasing transaction in just a few months is further confirmation that Bucharest has passed a tipping point and is now the logistics centre and distribution gateway for the whole of south-eastern Europe. CTPark Bucharest West and our other parks in and around the city also enable our partners to access other leading intra-regional markets via CTP’s Central European core axis to western Europe.”
