P3 Romania “cautiously optimistic” about activity in H2

P3 Logistic Parks, the Romanian subsidiary of Czech group P3, leased 58,637 sqm of logistic and office spaces in the first half (H1) of 2020.

The company remains "cautiously optimistic" about its activity in the second half of the year.

___STEADY_PAYWALL___

Of the total transactions closed in H1, 52% of the surface (30,466 sqm) accounted for new long-term contracts, 38% were renewals (22,420 sqm), and the remaining 10% (over 5,700 sqm) were short-term leasing agreements.

"Over the past couple of months, we have seen some of the deals that got postponed during the lockdown period resurface again, and this is a sign that makes us cautiously optimistic," said Sinziana Pardhan, Managing Director P3 Romania.

In the first half of this year, P3 Bucharest A1 park added two new companies to its tenant portfolio: Logwin - a specialized provider of logistics and transport services for the lifestyle industry, especially retail and fashion, which leased a surface of 2,350 sqm used for consolidating its operations related to clothing and accessories and Just Master Activities - an import and distribution company with a strong presence in the FMCG market in Romania, distributor of mass-market cosmetics who leased a total area of 3,200 sqm.

P3 operates in Romania two logistic parks: Bucharest A1 park, the largest multifunctional park in Bucharest, with 380,000 sqm developed space (out of which nearly 340,000 leased) and P3 Bucharest NW Ring Road that includes over 80,000 sqm potential development space.

(Photo courtesy of the company)