P3 wins “Industrial Development of the Year” at EuropaProperty SEE Real Estate Awards 2016

P3 Logistic Parks, one of the leading pan-European logistics real estate owners, developers and asset managers, has won “Industrial Development of the Year” in the EuropaProperty SEE Real Estate Awards 2016, for a project being developed for Carrefour Romania, part of the second largest retailer in the world, at P3 Bucharest park.

The 11th annual EuropaProperty SEE Real Estate Awards Gala was held in Bucharest, Romania. The important event brings together the most active international managers, developers, bankers, investors, lawyers and other CRE professionals operating in South East Europe.

The Gala was attended by more than 250 industry professionals from major companies operating in commercial real estate, investment and construction industries.

“We are honoured to have received the “Industrial Development of the Year” award. It represents international recognition of the efforts of the strong P3 team in developing this important logistics hub near Bucharest and to offer high quality facilities, designed around customers’ needs,” said Blake Horsley, Country Head for P3 Romania.

The partnership with the leading European retailer Carrefour stands as one of the largest logistics deals concluded in the Romanian industrial market in 2015. Two new buildings are under construction in P3 Bucharest as part of the agreement to establish the 81,000 m2 logistics hub for Carrefour - a warehouse of 28,000 m2 and a cold storage facility of 19,100 m2, 15,000 m2 of which is leased by Carrefour.

Consistent with the strong expansion of P3 across Europe, P3 Romania is currently building around 90,000 m2 in P3 Bucharest park and plans to expand in the country. Besides the two new facilities for Carrefour, a third warehouse of 42,800 m2 is also currently under construction. Once these three are completed, P3 will have a portfolio totalling 305,000 m² of lettable area in Romania. There is land bank that can be developed to provide another 51,980 m2 of space in units ranging from 4,000 m2 to 40,000 m2.

P3 Bucharest park is strategically located approximately 13 km west of Bucharest city centre and offers direct access to and high visibility from the new A1 motorway. It is close to the city’s ring road, which provides easy access to its six districts, Henri Coanda International Airport (22 km away) and the A2 motorway.

At the beginning of 2016, P3 had almost 220,000 m2 of warehouse space under construction in four countries across Europe, almost doubling its 2015 development total of 113,000 m2. Last year, P3’s asset base reached over 3 million m2 of space.

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