ROMANIA Globalworth acquires Arad and Oradea parks

The parks that have changed hands are IPW Arad (20,100 sqm) and IPW Oradea. Both are 100 pct leased. The first, 6,900 sqm phase of IPW Oradea was completed and delivered in H2 2020 and has the possibility of expansion up to 9,900 sqm. The park’s tenant is Iwis.

Following these transactions, Globalworth is now present in six major cities in Romania: Arad, Bucharest, Constanța, Oradea, Pitești and Timișoara. The portfolio of Globalworth Industrial (Globalworth’s logistics and industrial sub-brand) now amounts to 260,400 sqm.