Arad Business Park, with a total area of about 42,000 square meters, was acquired by Belgian developer WDP, in a transaction advised by Colliers.
Arad Business Park property currently has an occupancy rate of approximately 90% and will be operated by WDP Romania following the transaction.
Colliers has managed the facility since 2014, having as scope of work day to day tenant management, extensions, renewals and new leases, operational management of subcontractors, etc.
The acquisition of Arad Business Park by WDP represents an investment into urban logistics as well as into a strategic macro-location in an important industrial cluster, says Robert Miklo, Director Investment Services at Colliers Romania & CEE
With 5.6 million square meters of modern storage space at the end of 2021, Romania is the third largest industrial and logistics market in CEE-15.
As of mid-2022, Colliers specialists estimate a volume of around EUR 60 million in industrial real estate transactions, representing around 17% of the total investment transaction volume.