Globalworth Industrial, Globalworth's logistics and industrial sub-brand, has acquired two industrial assets with a total area of 27,000 m2 in Romania for €18 mln.
The deal for the IPW Arad (Industrial Park West Arad (IPW Arad) and Industrial Park West Oradea (IPW Oradea) schemes adds another two Romanian cities to Globalworth's business.
Following these transactions, Globalworth is now present in the six Romanian cities of Arad, Bucharest, Constan?a, Oradea, Pite?ti and Timi?oara.
With a total leasable area of 20,100 m2, IPW Arad consists of two phases: the first phase, delivered in 2012, comprises production, warehouse, office and technical areas, and the second phase, completed in November 2020, added two more levels dedicated to production and office areas.
It is occupied by Huf Romania, the Romanian subsidiary of the global automotive supplier Huf Group, the leading specialist for secure car access and authorization.
IPW Oradea's 6,900 m2 first phase was completed and delivered in the second half of 2020, with the possibility of expanding to up to 9,900 m2. The park’s tenant is iwis, a producer of drive systems based on precision chains. Located on the European Road E60, 4 km from the border with Hungary, the industrial park will soon benefit from an intermodal terminal currently under construction.
Mihai Zaharia, head of investments Romania and group capital markets director at Globalworth said: 'The industrial and logistics market has grown strongly in the last five years, and the year 2020 brought the increased activity in areas such as production and e-commerce.
'Being already present in the western part of the country with Timi?oara Industrial Park, we became aware of the strategic potential offered by that area. Combining all these factors, we decided to acquire the two industrial projects from our partner, Global Vision, with whom we have been working closely for the industrial field.
'The 100% occupancy rate of our new assets confirms the investment’s high commercial potential. The addition of the two well-known German corporations in the automotive industry, iwis and Huf Romania, to our portfolio motivates us to continue the Globalworth Industrial activity at the highest standards.'
With the acquisition of the two projects, Globalworth Industrial reaches a total portfolio of 260,400 m2. The occupancy rate of the Globalworth Industrial sub-brand is currently 95%.
