BUCHAREST (Romania), December 12 (SeeNews) - Belgian logistics property developer Warehouses de Pauw (WDP) said on Wednesday it has signed a 45 million euro ($51 million) deal for the development and lease of 77,000 sq m of logistics warehouse space for the Romanian arm of French retailer Auchan.
The new buildings will be leased by Auchan for a period of seven years, WDP said in a press release.
Delivery of this new development located in WDP's existing site near Bucharest, in Stefanestii de Jos, is scheduled for the first quarter of 2020.
"This transaction emphasizes WDP’s strategy of creating long-term relationships with its clients, throughout its different core regions," WDP general manager Jeroen Biermans said.
In October, WDP said it plans to invest 75 million euro in four properties on three different sites in Romania by late 2019.
WDP develops and invests in logistics property, namely warehouses and offices and has a property portfolio of around 4 million sq m. This international portfolio of semi-industrial and logistics buildings is spread over more than 180 sites at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg and Romania.