CTP acquired CTPark Bucharest West from Prologis in the second half of 2015 and the new building will increase the park’s built-up area to 130,000 sqm, CTP said in a statement. The construction of the new building started in the second half of March and is due for completion in September 2016.
Marian Orzu, Head of Leasing and Business Development within CTP Romania, said CTP noticed a great demand for the remaining area of 15,000 sqm which is expected to be leased before the completion of the construction stage.
The company took over the logistics park from Portland Trust, a project for which it paid EUR80 million. Overall, the developer invested EUR300 million in 2015 in developing and acquiring logistics projects in Romania. In coming years, it plans to continue its expansion on the local market, through organic growth and acquisitions.
The company has logistics spaces available in several locations in Romania, such as CTPark Arad, CTPark Deva and CTPark Timisoara. CTP aims to reach five million sqm of logistics spaces until 2018.