CTP signs direct lease of 55,619 m² with Pepco near Bucharest
Pepco, which already occupied the building through a third-party logistics provider, now deals directly with the real estate company. The transaction, announced on October 20, 2026, concerns a regional distribution center serving Romania and Central and Eastern Europe.
A regional distribution center for Pepco at CTPark Bucharest West
CTP has signed a lease with Pepco, a European discount retail chain offering clothing for the entire family, household items and toys. The contract covers 55,619 m² within CTPark Bucharest West in Romania.
Pepco will operate a regional distribution center there, serving the Romanian market and, more broadly, the Central and Eastern Europe region. According to CTP, the agreement strengthens the park's role as a logistics platform for regional distribution operations.
From occupation via a service provider to a direct lease relationship
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The change primarily concerns contractual structure. Until now, Pepco occupied the building through a third-party logistics provider; the distributor has now entered into a direct partnership with CTP.
Andrei Marian, commercial development director of CTP Romania, presented this shift as a transition to a long-term direct lease structure. He noted that the real estate company had worked with Pepco to develop a solution adapted to its operational needs and distribution network.
A park of nearly 1.5 million m² and 1.8 million m² leased since January
CTPark Bucharest West, located west of Bucharest along the A1 highway, is presented by CTP as the largest industrial park in continental Europe, with nearly 1.5 million m² of rental space planned. It brings together distributors, manufacturers and third-party logistics providers serving national and international markets.
At group level, CTP has signed 1.8 million m² of leases across its entire portfolio between the beginning of the year and end of August 2026, a volume it qualifies as record-breaking. As of June 30, 2026, the real estate company held 14.8 million m² of gross rental space in 12 countries, as well as 2.0 million m² under construction.
The group claims over 1,700 clients, an annual retention rate of approximately 90% and 65% of its new business stemming from the expansion of existing clients. It is rated BBB (stable outlook) by S&P, Baa2 (stable) by Moody's and A (stable) by JCR.
« The Group reiterates its Company-specific adjusted EPRA EPS guidance for 2026 of €1.01-€1.03. » ; « CTP expects double-digit Company-specific adjusted EPRA EPS growth in the years thereafter »
Risks mentioned
Expected broadly stable estimated rental values (ERVs) for remainder of 2026, with rental growth resuming only in 2027
Leverage ratio at 46.6% above medium-term target range of 40-45%, requiring earnings growth and disciplined capital allocation to return to target
Lower end of 2026 delivery guidance range (1.4-1.7 million sqm) reflecting timing of project completions
Opportunities identified
Record leasing activity of 1.943 million sqm (+23% YoY) driving strong rental growth
Expected to reach €1 billion of annualised rental income in 2027 through development completions and like-for-like rental growth
33.4 million sqm landbank providing significant embedded development potential with over €7 billion of illustrative development valuation uplift
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
