Globalworth, office investor in Central and Eastern Europe, signed at the beginning of this year a lease with DS Smith for its second logistics park in Timisoara, a project of Globalworth Industrial, its industrial and logistics sub-brand. DS Smith, the European leader in packaging production, decided to relocate its Service Center operations from Timisoara, renting more than 6,000 sqm at the park. Following this new collaboration, the occupancy rate in all completed industrial projects under the Globalworth umbrella reached 100%.
Globalworth started developing Timisoara Industrial Park II following the very high demand for logistics space in the area and, more specifically, in the first industrial complex belonging to the group, Timisoara Industrial Park I.
Timisoara Industrial Park II will be built in stages and is designed to suit a wide variety of interests. Work on the project began in October 2018, and the first building was completed last year. The first warehouse in the new park spans an area of 17,700 sqm and already hosts NDB Logistics.
In total, at the end of the project, the second industrial park in Timisoara will provide tenants with high quality space over an area of 170,000 sqm.