Logistics developer Logicor has purchased a land plot spanning 4.6 hectares from toy retailer Jumbo for an undisclosed sum.
The land is located in Eastern Bucharest, on the exit towards the highway linking Bucharest to Constanța.
“With this investment, we are strengthening our presence within the Bucharest ring road and are committed to meeting the evolving needs of the market,” says Mihai Diaconescu Director, Asset Management & Development Of Logicor Romania.
The land has the permits for the development of warehouses spanning 25,000 sqm, according to Colliers Romania, which brokered the land transaction.
“The trend for investors to consolidate in areas where they are already established is clear, as is the growing interest in inner-city logistics,” says Sînziana Oprea, Director of Land Agency at Colliers Romania. The company already owns a 8.2-hectare land plot in Eastern Bucharest.
Logicor Romania's portfolio currently comprises more than 300,000 sqm of warehouse space.
