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News from Members Record-breaking deal at the beginning of this year: CBRE assists P3 Bucharest A1 in the renewal for 85,000 sq m of logistics space occupied by Carrefour

Record-breaking deal at the beginning of this year: CBRE assists P3 Bucharest A1 in the renewal for 85,000 sq m of logistics space occupied by Carrefour

by CBRE January 20, 2021

Website www.cbre.ro

  • FMCG retailers in Romania occupy over 1 mil. sq m of logistics spaces
  • By the end of next year, FMCG companies will reach 1.4 mil. sq m

CBRE, the leader of the real estate consultancy market, advised the renewal of the lease for approximately 85,000 sq m that Carrefour group occupies in the industrial park P3 Bucharest A1, in the west of the capital city, this being one of the largest deals on the local logistics market.

Carrefour Romania continued to expand in 2020, opening 25 stores and thus reaching a network of 360 physical stores, adding carrefour.ro portal and Carrefour's presence through on the Bringo platform with delivery and Click & Collect in 38 of localities. At the same time, Carrefour has been a tenant of the P3 Bucharest A1 industrial park since 2007, where it has gradually expanded. Currently, Carrefour occupies a total area of 85,000 sq m in P3 Bucharest A1, which includes a refrigerated Build-to-Suit (BTS) space and various modern technological solutions such as LED lighting, water supply management, energy efficient cladding and a complete building management system.

"After 2020, a year in which the industrial sector became the star of the global real estate market, 2021 begins with a major deal for the Romanian market, through the renewal for the Carrefour warehouse. We are in the stage of consolidations, of large centralized warehouses and we expect more and more XXL warehouses to take shape both in Bucharest and in other key areas of the country. Thus, after a historic year in terms of total leasing activity, 2021 has all the premises to continue the rise of the industrial market ", said Răzvan Iorgu, Managing Director, CBRE Romania.

FMCG companies will reach 1.4 mil. sq m of logistics space, by the end of 2022

Along with Carrefour, FMCG retailers (consumer goods, respectively food, personal care and housing products) are among the largest occupiers of logistics in Romania, currently using a total area of 1.1 million square meters, double compared to five years ago, according to CBRE data. Another 200,000 sq m for FMCG tenants are already under construction and CBRE estimates indicate another 100,000 sqm will be leased in 2021 and will be delivered next year.

The renewal for the 85,000 sq m Carrefour warehouse is one of the largest real estate deals ever concluded on the Romanian logistics market.

Carrefour is the biggest tenant of the P3 Bucharest A1 park, as well as one of the oldest. Over the 13 years since we have been collaborating, a close partnership between our teams has taken shape: a partnership based on transparency, trust, quick reactions and constructive approach. 2020 has shown us once again - especially during the moments of crisis and uncertainty that we have experienced - how important the FMCG segment is for the smooth functioning of modern society. We are glad to be hosting in our park one of the most important players on this segment.”, stated Sinziana Pardhan, Managing Director P3 Romania.

P3 Bucharest A1 Park is located about 13 km west of Bucharest city center, with direct access to the A1 motorway. The total area of the P3 Bucharest A1 park is approximately 380,000 square meters and currently includes 14 buildings, a power station and a railway terminal. Among the largest tenants of the park, along with Carrefour, are eMag, Yusen Logistics, Gebrüder Weiss, Elit, Agricover, HOPI, Europharm, Interbrands and E Van Wijk.

About CBRE

CBRE, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm, based on 2019 revenue. The company has more than 100,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 530 offices (excluding affiliates) worldwide. In Romania, CBRE offers an extensive range of integrated services including transaction management and coordination, project management, design and build services, property management, investment management, valuation, property rental, strategic consulting, property sales, mortgage services and development services. For more information please visit www.cbre.ro or follow  our Linkedin page.

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