P3 Logistic Parks concludes 2023 with 170,000 sqm of lease transactions in Romania

P3 Logistic Parks, a developer, owner, and manager of industrial European real estate concluded 2023 in Romania with transactions totalling more than 170,000 sqm in P3 Bucharest A1 industrial park – P3’s highest activity volume recorded in recent years, in the Romanian market.

The client portfolio is its most diverse to date, featuring a strong mix of ideal tenants from sectors such as retail, logistics & distribution, pharma, manufacturing, and others. Approximately 40 percent of the leased space is occupied by large retailers and FMCG companies, 40 percent by logistics and distribution companies, while the remaining 20 percent is rented by companies in sectors including manufacturing, IT, and pharma.

From the total reported leases in 2023, over 150,000 sqm were transactions with long-term partnerships and 20,000 sqm were from short-term partnerships. Among the long-term partnerships, 77 percent of the area were prolongations of existing contracts, 25 percent was extensions of leased space within the park, and 5 percent were new tenants.

Cristina Pop, Head of Asset Management P3 Romania, highlighted the company’s performance in the current context of the industrial sector. She said: “Last year was successful for us; marked by outstanding results, as shown in the transactions signed, including contract renewals, expansions, and the diversification of our tenant mix. The addition of a new sector to our tenant portfolio, focused on light production speaks of the park’s sector-leading electrical capacity of 50MW, which represents a distinct advantage. The plan for 2024 is to focus on maximizing our existing portfolio, advancing our ESG strategy, and continuing to provide excellent customer service.”

The developer saw strong interest from clients in environmentally friendly buildings and green energy options, which is reflected in the company’s well-defined ESG strategy. All the buildings in the park are BREEAM-certified “Very Good” for sustainability, with P3 Bucharest A1 being the only institutional industrial park in Romania with smart metering on the electrical side. All spaces benefit from 100 percent LED lighting solutions. At the same time, the park has separate heating installations for the office and storage areas, for a more efficient energy consumption management and a comfortable and efficient working environment.

In addition, the park’s rail terminal, CFR passenger station, electric car charging outlets for both small cars and trucks, the 50 MW high-voltage station and smart metering systems provide the park with a flexible and adaptable infrastructure for a wide range of industrial, logistics and commercial activities.