Polish fashion retailer LPP has leased 65,000 sqm in CTPark Bucharest West for its new regional distribution centre that will cover southeastern Europe. The park spans around 770,000 sqm and is located near the Romanian capital.
The transaction is backed by LPP’s accelerated expansion strategy. The company has doubled its store network in Romania to 118 units in just 2.5 years.
“Taking this into account, the decision to lease a new warehouse facility in Romania to service the LPP sales network was a natural direction for us. This will be our second warehouse facility in the country, so we are confident that our knowledge of the market and local conditions will allow us to further boost our potential as a logistics operator in the region,” said Sebastian Sołtys, Vice-President of LPP Logistics.
The new LPP building will be one of the largest of its type in Romania measuring some 160,000 sqm.
“Since 2020 we have had regular year-on-year openings of major distribution centres across our Park, and CTP’s new partnership with LLP comes hot on the heels of the signing of a 50,000 sqm lease with a major logistics group in late 2022 at CTPark Bucharest West featuring a new regional distribution hub for its retail client. This second major leasing transaction in just a few months is further confirmation that Bucharest has passed a tipping point and is now the logistics centre and distribution gateway for the whole of south-eastern Europe,” added Ana Dumitrache, Country Head of CTP Romania.
CTP’s portfolio covers over 9.9 million sqm in 10 countries. Meanwhile, LPP operates a chain of over 1,800 stores with a total area of 1.5 million sqm. Its logistics operations comprise distribution and fulfillment centres with a total area of nearly 450,000 sqm.
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