Industrial parks developer CTP has taken over Phoenix Logistics Center (PLC) from Dutch company LSREF3 Alpha Dutch Holdings for EUR 7 million in the second quarter of 2017.

Phoenix Logistics Center (PLC) was integrated in CTPark Bucharest and is located in Chiajna, at the crossroad between A1 motorway and the city’s ring road, at only 10 kilometres distance from the Bucharest’s city centre. PLC has a total surface of 43,000 square meters, out of which 21,000 sqm lettable area.

CTP plans to invest EUR 1.5 million to upgrade and refurbish the park.

“The demand is high and I am very optimistic that we will accomplish this target and even exceed it. Phoenix Logistics Center has an ideal location for a logistics park: extremely close to the city centre and with very good commercial exposure due to the direct access to A1 motorway and the city ring road,” explained Ana Dumitrache, co-country head of CTP Romania.

PLC is fully leased at the moment to DB Schenker.

CTP aims to reach 1 million sqm of leasable space in Romania by 2018.