Atlas Corporation is selling the logistics center in the Pipera area

by   CIJ News iDesk V
2021-12-08   10:58

The Greek group Atlas Corporation sells the logistics center in the Pipera area of Bucharest. Most of the property has already been bought by businessman Alin Niculae, and for the last part the Greeks are negotiating with the Portland Trust.

The logistics center, which had a storage area of about 24,000 square meters, was built, through the company Atlas Warehousing, on a plot of 85,000 square meters.

In 2018, Atlas sold a first piece of land, of about 20,000 square meters, from this property to businessman Alin Niculae, who instead developed the Cloud9 residential complex with 820 apartments. Recently, the investor paid to Atlas about 17.5 million euros, for a plot of land of about 35,000 square meters that complements Cloud9. Thus, the residential complex will be expanded with another 1,300 apartments.

The Atlas Group is left with land of about 30,000 square meters, and according to market sources, Atlas is negotiating with the real estate developer Portland Trust for their sale.