European logistics specialist VGP has made its first foray in the Bucharest market with the acquisition of a land plot in a prime location near the Romanian capital where it plans to develop a 120,000 m2 multi-tenant business park.
VGP Park Bucharest will be developed on a land plot of 250,000 m2 in the northern part of Bucharest and will consist of four buildings offering flexibility to potential tenants in terms of layout and build-to-suit options.
Construction of the first building with a surface of 28,000 m2 is planned to be kicked-off in June 2021. Delivery is expected for December 2021.
‘We are very pleased to have acquired this strategically located land plot near the Romanian capital and thereby to enter Bucharest market as well,’ said Adrian Crizbasianu, country manager of VGP Romania. ‘With technological changes and e-commerce continuing to be an important driver for demand for high standard facilities, we experience a solid demand from potential tenants. With this new park, we can offer high quality & sustainable premises on a top Bucharest location.’
VGP Romania, a subsidiary of the VGP Group with a long standing presence in Romania since 2007, already owns business parks in Timisoara and Sibiu as well as parks under construction in Brasov and in Arad. The group has a total of 77 parks located in 12 European countries.
