Logicor expands Eastern Bucharest footprint with 4.6-hectare land acquisition

Logicor, a major player in the logistics real estate sector, has recently expanded its holdings in eastern Bucharest by acquiring a 4.6-hectare plot of land from toy retailer Jumbo. The transaction, facilitated by real estate consultancy firm Colliers, further strengthens Logicor’s strategic position in the area, where the company already operates Bucharest’s first last-mile logistics hub.

The newly acquired land, located near the Pallady exit towards the A2 Motorway, is part of Logicor’s ongoing efforts to consolidate its presence in key logistical zones. According to Colliers, there is a growing demand among large developers for strategic land purchases, particularly in areas offering more favorable pricing compared to the highly competitive market elsewhere in the city.

Logicor’s portfolio in eastern Bucharest now includes an adjacent 8.2-hectare plot next to the Arabesque materials warehouse. With the addition of the Pallady site, Logicor Romania’s total holdings exceed 300,000 square meters of Class A warehouse space, serving prominent tenants such as IKEA, Coca-Cola, DPD, Profi Rom Food, Heineken, and CTDI.

“The eastern part of Bucharest holds significant development potential, especially in urban logistics. We’re seeing a surge in demand for modern, efficient warehousing, and rising rents reflect this trend. Our investment in Pallady enhances our footprint within the Bucharest ring road, and we are committed to addressing the evolving needs of the market,” said Mihai Diaconescu, Director of Asset Management & Development at Logicor Romania.

The land acquired from Jumbo comes with an existing urban zoning plan (PUZ) for industrial development, allowing for the construction of up to 25,000 square meters of additional warehouse space. This acquisition aligns with the broader trend of developers consolidating their operations in established areas and expanding towards the A2 motorway, where other companies, such as VGP, have also made significant land purchases.

“Investors are increasingly focusing on areas where they are already established, with a clear interest in urban logistics. The industrial market is rapidly expanding towards the A2 motorway. The land Logicor acquired from Jumbo had been held for some time without development, as Jumbo built their logistics center on an 18-hectare site in Popesti-Leordeni, also brokered by Colliers in 2020,” explained Sînziana Oprea, Director of Land Agency at Colliers Romania.