Belgian developer WDP acquired Arad Business Park
Arad Business Park, with a total area of about 42,000 square meters, was acquired by Belgian developer WDP, in a transaction advised by Colliers.
Located in the Northern Central part of Arad, Arad Business Park property currently has an occupancy rate of approximately 90 percent and will be operated by WDP Romania following the transaction. According to Colliers experts, the transaction confirms the interest in small business units and last mile logistics.
Colliers has managed Arad Business Park since 2014, having as scope of work: day to day tenant management, extensions, renewals and new leases, operational management of subcontractors, the management of any other third parties as well as OPEX and CAPEX budgets and other general property management aspects.
“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”, says Robert Miklo, Director Investment Services at Colliers Romania & CEE.
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.
“With this transaction, the investment market is receiving a new vote of confidence from one of the most active players in the logistics sector”, says Anca Merdescu, Associate Director Investment & Debt Advisory at Colliers Romania.
As of mid-2022, Colliers specialists estimate a volume of around €60 million in industrial real estate transactions, representing around 17 percent of the total investment transaction volume. This year’s investment volume is likely to exceed the €1 billion threshold, driven largely by transactions in the office segment. 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.