BUCHAREST (Romania), August 16 (SeeNews) - Belgian logistics property developer Warehouses de Pauw (WDP) acquired Arad Business Park in western Romania, deal advisor Colliers said on Tuesday.
The name of the seller and the value of the deal were not disclosed.
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With a total area of about 42,000 sq m, Arad Business Park property currently has an occupancy rate of approximately 90% and will be operated by WDP Romania following the transaction, Colliers said in a press release.
Colliers has managed Arad Business Park since 2014.
"The acquisition of Arad Business Park by WDP represents an investment into urban logistics as well as into a strategic location of an important industrial cluster, on the border with Hungary and connected through the A1 motorway to the west," Colliers Romania and CEE director of investment services Robert Miklo said.
According to Colliers, Romania is the third largest industrial and logistics market in CEE-15, with 5.6 million sq m of modern storage spaces at the end of 2021.
WDP develops and invests in logistics property, namely warehouses and offices and has a property portfolio of around 6 million sq m at prime logistics locations for storage and distribution in Belgium, France, the Netherlands, Luxembourg, Germany and Romania.