Belgian developer WDP buys logistics park in Western Romania
Belgian developer WDP, which specializes in logistics spaces, has acquired Arad Business Park, a 42,000 sqm property located in Western Romania. Real estate consultancy firm Colliers brokered the deal.
Arad Business Park currently has an occupancy rate of approximately 90% and will be operated by WDP Romania following the transaction. Colliers has managed Arad Business Park since 2014.
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,” said Robert Miklo, Director Investment Services at Colliers Romania & CEE.
WDP is one of the largest investors in the logistics segment in Romania. In the first six months of this year, the group invested EUR 37 mln in acquisitions in Romania, consisting of land for development and existing projects, according to its half-year report. The sum includes the acquisition of Arad Business Park. The company has ongoing projects in Romania worth EUR 106 mln to be completed by 2025.
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 EUR 60 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.
This year's investment volume is likely to exceed the EUR 1 billion threshold, driven largely by transactions in the office segment.
(Photo source: Colliers)