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«ProLogis, the world's largest owner, manager and developer of distribution facilities, announced today that it has leased 211,000 square feet (19,600 square meters) of modern industrial space in Bucharest, Romania, to Centrum Logistics, a European provider of third-party logistics services and a subsidiary of Groep H. Essers, a Belgium-based transport and logistics company.
Centrum will occupy space in a new distribution center being developed at ProLogis Park Bucharest A1, located along the Bucharest-Pitesti highway, Romania's primary east-west interstate, approximately 23 kilometers west of downtown Bucharest. Centrum, which currently leases 89,000 square feet (8,300 square meters) in another building at the same park, is consolidating its existing operations there and will expand into the new facility, which totals 300,000 square feet (27,900 square meters), once it is completed before the end of the year.
"We are very pleased to announce this new transaction, which we believe underscores the strategic location and quality of our property platform in Romania," said Michael de Jong-Douglas, managing director for ProLogis in central and eastern Europe. "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. As one of the market leaders, we anticipate demand for our facilities will remain steady as we continue to nurture long-term partnerships and provide our customers with the highest quality of distribution space. Our new agreement with Centrum Logistics is a great example of this dynamic and confirms our ability to deliver the best solution for companies with evolving logistics needs."
"This transaction reflects our sustained and strong growth in Romania," said Marc Paulissen, country manager for Centrum and Groep H. Essers. "We are very satisfied with the level of service provided by ProLogis and look forward to occupying our new facility at ProLogis Park Bucharest A1, which will allow us to improve the flexibility and efficiency of our logistics operations."
ProLogis Park Bucharest A1 currently consists of two completed facilities totaling 570,000 square feet (53,000 square meters) and two facilities under development totaling 538,000 square feet (50,000 square meters). The award-winning park, which will comprise nine buildings totaling more than 3.12 million square feet (290,000 square meters) at full build-out, was named the "Best Real Estate Industrial Development in South Eastern Europe" for 2007 as part of the annual SEE Real Estate Quality Awards hosted by Europaproperty.com.
In addition to Centrum Logistics, other customers at ProLogis Park Bucharest A1 include Augsburg International Impex, cargo-partner, Geodis Calberson, Kuehne + Nagel and Omega Transport & Logistics» (CS della Società).
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