Immofinanz Group builds LOG.IQ, a 140,000 sqm project in Bucharest

The Austrian real estate group Immofinanz announced it would start the construction of a 14.000 sqm GLA logistic park in Mogosoaia, Bucharest.

2015-07-24 12:57:57

The site is located just outside Bucharest, in Mogosoaia. The ring road provides excellent access to the city and to the A1 and A2 motorways. Henry Coanda International Airport, at mere 15 km north of Bucharest city centre. The park boasts a frontage of approximately 470 m to Buiacului Street. LOG.IQ Bucharest is a large plot of approximately 280,000 sqm ready for development into a logistic park.

Infrastructure including concrete platforms, interior roads, utilities (water, sewage, gas, electricity, phone lines), as well as planning permission, are in place. Although construction work of the buildings has not commenced the interior roads and the railway line have been completed. The site is fenced and has a security team and surveillance cameras and extension potential for BTS is up to 148,439 sqm.

In April this year, the Austrian developer announced it is uniting its corporate logistics activities under the LOG.IQ brand. These activities cover the locations in the portfolio of the wholly owned subsidiary Deutsche Lagerhaus (DLG) as well as the facilities in Eastern Europe that have operated to date under the LOG Center brand. LOG.IQ will therefore stand for 59 logistics centers from the North Sea to the Black Sea. These properties will be rebranded during the coming months and receive the newly designed LOG.IQ appearance. "Our strategic logistics business has been the focal point of steady expansion in recent years. With the bundling of these properties under a single brand, we will be able to position LOQ.IQ as a Group-wide logistics competence center and accompany the flow of goods by our customers with a total capacity of over 1.1 million square meters of rentable logistics space", explained Dietmar Reindl, COO of IMMOFINANZ Group. "In addition, our portfolio is currently under expansion with projects in Gelsenkirchen, Hamburg, Gross-Gerau and Poing (Germany) and also in Bucharest."