• CTP has acquired 12 buildings from the Cromwell Property Group portfolio, located in the CTPark Bucharest
• CTPark Bucharest reaches over 500,000 sqm rentable at the end of 2020, with more than 100 customers
CTP, the largest developer and long-term administrator of premium industrial and logistics parks in Romania and in Central and Eastern Europe, acquires 95,000 m2 of buildings from the Australian Cromwell Property Group, representing the largest transaction on the Romanian logistics market in 2020.
With this acquisition, the company expands CTPark Bucharest, thus reaching over 500,000 m2 rentable, occupied by over 100 customers. This acquisition aligns with CTP’s strategy to create business communities and parks with complex infrastructure, thus supporting residents’ businesses.
The acquisition of the buildings previously owned by Cromwell Property Group is a strategic move for CTP. The 12 buildings located inside CTPark Bucharest are flexible and have spaces starting at 1,700 m2 and reaching over 10,000 m2, all to support a wide range of customers. These spaces complement existing buildings, with actual customers strengthening the business community in this park.
The orchestrator of this transaction, Andreea Enescu, Transaction Manager CTP Romania, declared:
“The Cromwell acquisition complements our portfolio at km 13 of the park situated on the A1 Highway. Our plan is to redevelop the park so that we bring it to CTP standards, through energy efficiency, taking into account the appearance of the buildings. It is worth mentioning that the Cromwell portfolio includes a multifunctional building, which is now not operational, but will be brought to life by the middle of next year. Here we will create a CTP Clubhouse with multiple functions – from restaurant and cafés, to fitness and conference rooms, to support residents in attracting quality workforce and easy access to basic services and even entertainment.”
The transaction was managed by the real estate agency JLL, under the oversight of Silviana Petre, Managing Director.
CTPark Bucharest is strategically located on the logistics map of the country, with access to the A1 Highway and 15 km from the center of Bucharest. At the moment, the park offers more than 500,000 m2 rentable for more than 100 companies in the e-commerce and logistics sectors.
CTPark Bucharest Facts
Total built area: 500,000 m2
Planned constructions: 35,000 m2
Total area: 100 ha
In Romania, CTP is the leading warehouse developer and manager, with a GLA of over 1,250,000 sqm of Class A warehouses spread in 10 cities: Arad, București, Cluj-Napoca, Deva, Pitești, Sibiu, Timișoara, Turda, Ineu and Salonta.