The warehouse currently has a 10-year leasing contract with Teconnex, a world leader in jointing technologies. The asset is at its second deal, after having initially been acquired by the seller as a leaseback project in 2007.
“The deal is important in the context of a highly compact I&L market, where new developments are largely kept in the portfolio and proves there’s liquidity in the local real estate sector, offering a benchmark for future deals and aiding boost the confidence of potential new investors in Romania,” says Anca Merdescu, Associate Director Investment & Debt Advisory at Colliers Romania.
First Property Group last year sold the last retail space left in its portfolio, for EUR1.25 million, after having bought in 2016 together with several investors the space of nine Lidl supermarkets in Romania, for EUR10.5 million.
In Romania, the group also owns Maestro Business Center office building of Cluj and a 3,000-sqm office building in Piata Victoriei.
The group has offices in London, Warsaw and Bucharest.
(English version by Catalina Apostoiu)