POP & PARTNERS advises the specialist pan-European logistics real estate owner, developer and manager P3 (former Point Park Properties) throughout the negotiation and signing of the contracts for a multifunctional facility within P3’s industrial park on the A1 motorway near Bucharest, which will accommodate employees of the industrial park’s tenants. The first phase of the multifunctional project will include a hostel with a capacity of 212 people, a 200-seat canteen, a supermarket and a café.
The project envisages an expansion of accommodation capacity and the addition of new services for tenants according to their requests, including a medical center, courier services, an ATM and dry cleaning. The estimated end date for the first phase of the project is the end of September 2019. Law firm Pop & Partners assisted P3 for this project.
“It is the first such project in Bucharest and reflects the philosophy of P3 to provide customers not only with a warehouse, but a whole ecosystem to facilitate the development of their business,” says Sinziana Pardhan, P3 Managing Director in Romania.
“By building the multifunctional project we want to encourage the development of a true community within our park. Employees will have a supermarket and a canteen with a recreation area, and we will add other services in the future. Together with the multi-modal terminal, the multi-purpose project aims to consolidate the complex and unique package that tenants can find at P3 Bucharest A1 Park and serving over 372,000 square meters of storage space,” adds Pardhan.