Real estate consulting firm Colliers brokered the deal.
Located in the central-northern part of the city of Arad, the Arad Business Park project currently has an occupancy rate of approximately 90% and will be operated by WDP Romania following the transaction. According to Colliers experts, the transaction confirms the interest in small business units and last mile logistics.
“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, on the border with Hungary and connected through the A1 motorway to the West”, stated Robert Miklo, Director Investment Services at Colliers Romania & CEE.
Colliers has been managing Arad Business Park since 2014, being engrossed in day-to-day tenant management, extensions, renewals and new leases, operational management of subcontractors, the management of any other third parties as well as OPEX and CAPEX budgets and other general property management aspects.
“With this transaction, the investment market is receiving a new vote of confidence from one of the most active players in the logistics sector”, said Anca Merdescu, Associate Director Investment & Debt Advisory at Colliers Romania.
Overall, the industrial and logistics market continues to be among the most dynamic sectors. 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 EUR60 million in industrial real estate transactions, representing around 17% of the total investment transaction volume. According to Colliers experts, the industrial sector still has a lot of potential and should see more deals closed by the end of the year.