P3 Romania leases almost 100,000 sqm in 2022

P3 Logistic Parks (“P3”) announced the results of its leasing activity in Romania in 2022. The evolution of the retail, logistics and transport sectors, together with the suite of modern facilities available in the industrial park on the A1 motorway has brought the European developer contracts for over 98,500 sqm of logistics and office space.

Sînziana Pardhan, Managing Director P3 in Romania, says: “2022 confirmed that the biggest challenges cannot be anticipated and that success is always a team effort based on perseverance, consistency and lateral thinking. Despite the war close to our border and high inflation, last year was good for P3 Romania.

“Through the diversity of facilities in P3 Bucharest A1 park and beyond, our clients have stayed with us and the retention rate remains very high. Under the auspices of market dynamics, the sectors that performed best for our location were unchanged, namely network and logistics services. The market is stabilising and may not be growing as rapidly as during the pandemic, but there is steady, healthy growth and we are ready to respond confidently to the demands of current and future customers.”

Of the total transactions signed, 88 percent represented requests from existing customers, who renewed their contracts (54,000 sqm) and extended the surface area of rented premises (33,000 sqm). New customers accounted for 11 percent of all transactions (11,500 sqm) and short-term contracts totalled 7,500 sqm. These results show sustained growth in activity by existing clients and, consequently, the need to increase space allocation.

Logistics companies accounted for half of all new contracts signed last year. Major tenants such as Altex, Acimoda, Yusen and SLS Cargo have extended or expanded their lease in P3 Bucharest A1. The developer also welcomed two new tenants, ALEF Distribution and FAN Courier. The new space leased by Romania’s leading courier services provider has become the main courier hub in western Bucharest, serving all FAN Courier customers in the region.