Road to Pitesti sees distribution centre blitz

BUCHAREST-PITESTI HIGHWAY

     US-based industrial space provider ProLogis Trust is developing its first project in Romania on the country’s primary transit corridor, the A1 Motorway to Pitesti.
     The publicly held developer and owner of distribution facilities said it has acquired 69 acres of land west of Bucharest at an estimated 65 million Euro (80 million USD), according to GlobeSt.com.
     The initial development phase includes infrastructure improvements and two of the four distribution centres. Completion of the first building is scheduled for December 2006, the second building is scheduled for delivery in January 2007.
     ProLogis COO Walt Rakovich said that the central and eastern regions of Europe have emerged as strategically important areas for industrial distribution. The company has operations in Poland and Hungary and has one of the largest industrial platforms in the Czech Republic.