Globalworth, the leading 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 belonging to 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.
“With projects already finalised and others under development in some of the most important parts of the country, Globalworth Industrial aims to provide Romanian companies with space for production, storage and logistics operations that align with the highest quality and environmental standards. Our Timisoara Industrial Parks are no exception to this rule”, said Mihai Zaharia, Director of Investments and Capital Markets of Globalworth.
In addition to the premium technical characteristics, the new industrial park is very well located being near to Timisoara International Airport, as well as the border crosspoints to Hungary and Serbia. It also provides easy access to both the Timisoara belt and the A1 motorway. Timisoara Industrial Park II is located close to the first industrial park developed by Globalworth, which is currently fully rented to companies such as Valeo, Continental, Honeywell, Coca-Cola and Litens.
Timisoara Industrial Park Valeo recently received the BREEAM Very Good green certification for Asset Performance and Building Management. Another of Globalworth Industrial’s projects has been awarded an important certification for sustainability. Pitesti Industrial Park, a project near Pitesti, housing Dacia Renault`s logistics operations, received the highly regarded Edge accreditation (Excellence in Design for Greater Efficiencies).
Moreover, as of last year Globalworth has been investing in two other large projects encompassing logistics and light industial space: the ”last mile” park in Chitila, near the Romanian capital, and the mixed-use project in Lazu, near the city and port of Constanta.
DS Smith is a leading international packaging business operating across 37 countries and employing c. 27,000 people.
Globalworth is a listed real estate company active in Central and Eastern Europe, quoted on the AIM-segment of the London Stock Exchange. It has become the pre-eminent office investor in the CEE real estate market through its market-leading positions both in Romania and in Poland. Globalworth acquires, develops and directly manages high-quality office and logistics/light-industrial real estate assets in prime locations, generating rental income from high quality tenants from around the globe. Managed by over 200 professionals across Romania and Poland, the combined value of its portfolio is €2.85 billion, as at 30 June 2019 pro forma for subsequent acquisitions. Over 95% of the portfolio is in income-producing assets, predominately in the office sector, and leased to a diversified array of some 685 national and multinational corporates. In Romania, Globalworth is present in Bucharest, Timisoara, Constanta and Pitesti, while in Poland its assets span Warsaw, Wroclaw, Lodz, Krakow, Gdansk and Katowice. Globalworth Industrial is a platform for development and investment in the logistics and industrial real estate market, which has so far gathered in its portfolio premium parks in strategic locations such as Pitești and Timisoara.