P3 Logistic Parks (“P3”) announces the results of the leasing activity for 2021, in Romania. Due to the high demand generated by the positive organic evolution of the retail, transport and logistics sectors, and to the multiple facilities available within P3 Bucharest A1, last year the company leased out approximately 113,500 square meters of logistics and office space.
Sînziana Pardhan, Managing Director P3 Romania, said: “The past 12 months have been quite effervescent not only for us as a company, but for the whole industry as well. The results of our leasing activity in 2021 look very good, surpassing the initial estimates. Likewise, we continue to see an increase in demand and rental dynamics, especially at KM 13, A1 motorway, generated mainly by the strong growth of the retail and logistics industries, as well as by the development of new regional centres that come to serve both Romania and other countries in the region. In this context, we are optimistic about the evolution of the local business in 2022. The long-term development prospects are also promising, especially when considering the approximately 100,000 square meters available for the future expansion of P3 Bucharest A1.”
Out of the total transactions signed by the company in 2021, over 80% (> 91,000 m2) are long-term leases, the rest being new contracts or short-term extensions. Much of the rental activity was generated by requests coming from existing tenants, who either prolonged their long-term contracts (32,400 m2) or chose to expand the areas currently occupied (32,200). These results confirm the premium location of the park, as well as the high-class services offered by the developer. Over the past year, P3 Bucharest A1 has received to its local community four new tenants that are occupying together a consolidated surface of approximately 23,000 square meters, has become the main distribution hub of international retailer Número Uno for the Central and Eastern European region and posts a 100% client retention rate. Moreover, in December, the developer received the Very Good BREEAM-In-Use standard for all existing logistics buildings within P3 Bucharest A1, thus achieving its sustainability objectives for the year, in Romania.
The P3 Group is aware that the whole world is facing a climate emergency. In this regard, the company continues to actively seek ways to reduce the impact on the environment and energy consumption, while remaining close to the needs of its tenants. In addition to the BREEAM In-Use certification, the developer aims to implement a number of energy efficiency measures, thus aligning to the overall goals of achieving carbon footprint neutrality. On a local basis, in order to continue its sustainable initiatives and further contribute to the sector’s decarbonization, P3 has recently installed the third charging station for electric vehicles, suitable for powering both higher-voltage cars and vans, and plans to continue the park afforestation project started in 2021. Moreover, in the future, the company intends to instal solar panels to be used for hot water preparation.
P3 is a long-term investor, manager, and developer of European warehouse properties with more than 6.4 million m² of assets under management and land bank of 1.6 million m² for further development. P3 has commercial activities in 11 countries and has been investing and developing in European markets for more almost two decades. Headquartered in Prague, P3 employs more than 200 people across 11 offices in key European cities, offering integrated development, asset, and property management services. For more information about P3, please visit www.p3parks.com