“We went through a difficult time with lots of challenges considering the rise in costs and the conflict at the border. However, we continue our development and rental pace,” says Andrei Jerca, managing director of Element Industrial.
The first ELI Park 3 phase, 18,500 square meters, was delivered this spring and is fully leased. The second phase, 30,000 square meters is already more than 75% rented and is scheduled for delivery in the fourth quarter of this year, the company officials said.
Element Industrial is a joint venture of Element Group established by Ionut Dumitrescu and D Craig Real Estate, the real estate arm of private equity firm D Craig Holding of Sacha Dragic.
(English version by Loredana Fratila-Cristescu)