Romanian developer Element Industrial will invest €20 million in the expansion of ELI Park 3 by 30,000 sqm, with Ferro Romania, a retailer of sanitary installation equipment, pre-leasing 16,000 sqm in the project.
The second phase of the project will be delivered in the fourth quarter of this year. At the same time Element Industrial will start in the second half of this year the development of a new phase of ELI Park Bucharest North-West, with a leasable area of 20,000 sqm.
"The choice of Ferro honors us and reconfirms the importance of the Buftea-Chitila hub on the logistics map of Bucharest," says Andrei Jerca, Managing Director, Element Industrial, adding: "We keep the aggressive development pace, and we will soon exceed the 100,000 sqm milestone at ELI Bucharest North-West hub."
The pre-lease transaction was brokered by ESOP agency.
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