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Globalworth buys Dacia Pitesti auto parts warehouse with 42.5 mln Euro

Colliers International offers consultancy to Elgan company, owned by the businessman Simon Roth, in the sale process of a logistics project located near Pitesti, rented by Dacia, part of Renault Group. The warehouse was purchased by Globalworth Real Estate Investments Ltd. managed by Greek businessman Ioannis Papalekas, for a transaction worth 42.5 million Euro.

2017-02-22 12:09:28

"The sale of the Dacia warehouse, developed by Elgan Group, to Globalworth, represents a major transaction for the investment market of Romania, following shortly after GIC, the sovereign wealth fund, entered the local market by purchasing P3 platform and consequently underlining the existing interest for this type of product in Romania. Also, through this acquisition, Globalworth expands its storage and logistics centers portfolio in Romania, after the acquisition of TAP park in Timisoara. Last but not least, for Elgan group, this is the first significant exit in Romania, and what is more, the group is looking at new developments", said Robert Miklo, Associate Director within Investment Services at Colliers International.

The warehouse has a leasable area of 68,000 square meters and a land plot that is suitable for the construction of another 40,000 square meters. Set in Oarja village, 28 km away from Dacia plant in Mioveni and near Bucharest-Pitesti highway, the warehouse was opened in 2010 and provides distribution of spare parts for Dacia, Renault and Nissan in Romania and 33 other countries.

Besides this deposit, Elgan Group, led by businessman Simon Roth, developed several similar real estate projects, including: Auchan Logistics (38,000 sqm in Hungary), Volvo Trucks Factory & Logistics (19,300 sqm in France), Renault-Nissan Logistics (19,500 mp in Hungary), Bogáncs Estates Office & Logistics (57,000 sqm in Hungary) and DHL Express HQ Office & Logistics (14,500 sqm in Hungary).

The sale of Dacia Pitesti warehouse is the second largest transaction brokered by Colliers on the industrial market in the last three years, after the company offered consultancy on the acquisition of Europolis Logistic Park for EUR 120 million in 2015. 2015 remains a reference year in terms of industrial transactions, thus having reached a volume of approximatively EUR 300 million. The outlook for 2017 is optimistic, with Colliers International consultants expecting to sign new mid-size transactions.

In addition, 2017 has all the prerequisites of attracting new investors as well as new acquisitions from the current players, on all the market segments.


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