“The decision to buy the logistic park in Chitila is in line with our investment plan to expand our stock in the Bucharest area and countrywide to accommodate new clients and expansion needs for our current clients,” said Ana Dumitrache, country manager for CTP Romania.
She said other factors that went into the decision were the existence of long term contracts, the tenants already present in the logistic park and its location.
The Chitila logistic park is located on Bucharest’s beltway in the northwestern part of the city, 7 km from highway A1, 16 km from the Bucharest international airport, 13 km from CTPark Bucharest and 18.5 km from CTPark Bucharest West, CTP’s two other major properties in the Bucharest area.
The Chitila logistic park currently has an area of 93,000 sqm, of which 45,000 sqm lettable area and 48,000 sqm of land available for further development. CTP plans to expand it by 13,000 sqm at first and works are scheduled to start at the end of this year.
CTP entered the Romanian market in 2015 and currently owns several properties in the southern and western Romania.
CTP is the leading logistic and industrial space developer in the Czech Republic and also operates in Slovakia and Hungary. It has 250 employees in total, of which 30 in Romania.