Prologis leases 19,600 m[sup]2[/sup] in Bucharest facility to Centrum Logistics

Logistics property giant Prologis has leased 19,600 m² of modern industrial space in Bucharest to third-party logistics provider Centrum Logistics, a subsidiary of Belgian transport and logistics group Groep H. Essers.

Prologis said Centrum will occupy space in a new distribution centre being developed at Prologis Park Bucharest A1, located along the Bucharest-Pitesti highway about 23 kilometres west of downtown Bucharest. Centrum, which currently lease 8,000 m² in another building in the park, will expand into the new facility once it is completed before the end of the year.

'The Romanian industrial real estate market is characterized by strong demand for modern warehouse space, primarily driven by large, multinational companies establishing domestic and cross-border distribution centers in the Bucharest area, and a large supply of obsolete inventory,'said Michael de Jong-Douglas, Prologis managing director in Central and Eastern Europe.