Globalworth expands industrial activity to two new cities in western Romania

Globalworth Industrial, Globalworth's logistics and industrial sub-brand, purchased two industrial projects with a total area of 27,000 sqm in Arad and Oradea. The company thus expanded its industrial activity to new major cities in western Romania.

The value of the IPW Arad (Industrial Park West Arad) and IPW Oradea (Industrial Park West Oradea) transactions amounted to almost EUR 18 million, the company said.

Following these recent transactions, Globalworth is present in six major cities in Romania, namely Arad, Bucharest, Constanta, Oradea, Pitesti, and Timisoara. Globalworth Industrial's portfolio currently spreads over an area of 260,400 square meters.

"The industrial and logistics market has grown strongly in the last five years, and the year 2020 brought increased activity in areas such as production and e-commerce. Being already present in the western part of the country with Timișoara Industrial Park, we became aware of the strategic potential offered by that area. Combining all these factors, we decided to acquire the two industrial projects from our partner, Global Vision, with whom we have been working closely for the industrial field. The 100% occupancy rate of our new assets confirms the investment's high commercial potential. Adding two well-known German corporations in the automotive industry, iwis and Huf Romania, to our portfolio motivates us to continue the Globalworth Industrial activity at the highest standards," said Mihai Zaharia, Head of Investments Romania and Group Capital Markets Director at Globalworth.

IPW Arad (Industrial Park West Arad) has a total leasable area of 20,100 sqm and consists of two phases. The first phase was delivered in 2012 and comprises production, warehouse, office, and technical areas, while the second phase, completed in November 2020, aimed to develop the park with two more levels dedicated to production and office areas.

Meanwhile, the first phase of 6,900 square meters of the IPW Oradea (Industrial Park West Oradea) was completed and delivered in the second half of 2020, with the possibility of expanding it to up to 9,900 square meters.

(Photo source: Globalworth)