CTP purchased CTPark Bucharest West from Prologis in H2 2015, and with this new construction, will increase the built-up area of the park to 130,000m².
Construction on the new facility is scheduled to begin in the second half of this month, and will be delivered in September 2016, just eight months after commencement.
“CTP sees strong demand for the remaining 15,000m² and I believe we will have it leased by the time the building is delivered,” said Marian Orzu, CTP’s head of leasing and business development, Romania.
“CTP is working hard to bring its established standards to the Romanian market. We continue to perfect the methods in which we construct and manage facilities, and we believe this will be appreciated by our international and local clients in Romania,” commented Valeriu Toma, CTP’s head of property management, Romania
Orzu concluded: “CTP made a strong push into Romania in 2015, and we continue to consolidate our position in the market. We have space available now in a number of our Romanian properties, including CTPark Arad, CTPark Deva and CTPark Timisoara.”
The grade-A building, built to BREEAM specifications, features CTP’s international standards, including 12-metre clear height and both interior and exterior LED lighting.
CTP’s portfolio of grade-A industrial properties has a lettable area of approximately 3.25 million m² (as of 31 December 2015) and CTP’s updated commitment is to grow to 5 million m² by the end of 2018.