Globalworth Industrial is purchasing two industrial projects with a total area of 27k square meters. The value of the IPW Arad (Industrial Park West Arad) and IPW Oradea (Industrial Park West Oradea) transactions amounts to almost 18 million euros, ensuring the presence of the largest office investor in Central and Eastern Europe in another two new major cities in western Romania.
With a total leasable area of 20,100 square meters, IPW Arad (Industrial Park West 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, aimed to develop the park with two more levels dedicated to production and office areas. The park benefits from a strategic location and excellent connectivity in terms of infrastructure. Located 4.8 km from the A1 motorway, 10.8 km from the Arad International Airport, and only 6.7 km from the city center, IPW Arad benefits from roads, parking lots and all the necessary infrastructure. All these features attracted a strong partner: Huf Romania, the Romanian subsidiary of the global automotive supplier Huf Group, the leading specialist for secure car access and authorization.
A first phase of 6,900 square meters of the IPW Oradea (Industrial Park West Oradea) was completed and delivered in the second half of 2020, with the possibility of expanding to up to 9,900 square meters. The park’s tenant is iwis, the world leader in innovative, cost-effective timing drive systems based on precision chains.
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 Timișoara 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.”
This post has originally been featured in Property Wire.