by Property Forum | Investment

CTP has acquired Phoenix Logistics Center (PLC) from the Dutch company LSREF3 Alpha Dutch Holdings B.V. The centre has been integrated into CTPark Bucharest and is located in Chiajna, 10 km from Bucharest’s centre.


PLC has a total surface of 43.000 sqm, out of which 21.000 sqm lettable area. The rentable areas span from 5,000 sqm to up to 21,000 sqm and can be used for storage, logistics, distribution and light industry activities. PLC is fully leased at the moment to DB Schenker, the world’s leading global logistics provider that supports industry and trade in the global exchange of goods through land transport, worldwide air and ocean freight, contract logistics and supply chain management.
 
The developer’s plans for the logistics park in Chiajna include an upgrade throughout the park in order to reach the quality standards implemented by CTP on all its properties. The refurbishment of PLC will take place in two phases: in the first stage, CTP performs adaptation works in order to meet the ISO standards (fire hydrant installations, emergency lighting system, exhaust system, fire protection systems etc.). The second phase will consist in refurbishment works such as: the replacement of the lighting system with Smart LED technology, and the replacement of the sewage and wastewater treatment systems etc. The first stage will be finalized in December, and the total investment in these two stages is estimated to reach circa €1.5 million. The second phase will start next year.
 
„We have decided to increase our stock of logistics and industrial spaces in order to reach a total leasable area of approximately 1 million sqm in Romania by the end of 2018. The demand is high and I am very optimistic that we will accomplish this target and even exceed it. Phoenix Logistics Center has an ideal location for a logistics park: extremely close to the city centre and with very good commercial exposure due to the direct access to A1 motorway and the city ring road”, explained Ana Dumitrache, Co-Country Head of CTP Romania.