P&P advises P3 along lease and construction agreements negotiation for P3 Bucharest Park expansion in 2017

POP & PARTNERS represents Pan-European logistics property investor-developer P3 during the discussions with the potential customer and the construction of a new 13,900 sqm warehouse facility at P3 Bucharest, which shall include 400 sqm of offices.

Completion of the warehouse is scheduled for August 2017, with the potential for an occupier to take early access in June. Since it purchased the park in 2015, P3 has built a total of 90,000 sqm of new logistics space. This latest warehouse is P3's 12th new build at the park. During 2017 it will add a further 65,000 sqm in three buildings, which means that P3 is well on the way to doubling the total size of the park in just two years. The expansion of P3 Bucharest park is part of P3's Pan-European expansion plans which will see it developing out its existing 1.8 million sqm land bank, purchasing land to extend existing parks and acquiring new sites in the countries in which it is already represented and new territories.

"This is our first building start of 2017. We plan to build a total of three warehouses this year. [...] Our aim is to create one of the most important logistic hubs in the Bucharest area. The developments that we undertook last year together with our plans for 2017 show that we are committed to achieving this goal and are in a position to be a long-term partner for our customers", said Blake Horsley, P3's Country Head in Romania.