The property includes a land plot of 4.4 hectares, two warehouses, storage spaces and administrative buildings with a leasable area of over 16,000 sqm, to be modernized by the buyer. 

“The required property is strategically located, in-city logistic in the city of Arad with good car and railway access and serves more than 30 tenants, who are active in various industries," said Andrei Timofte, General Director of Transilvania Construcții. 

The transaction was brokered by real estate consultancy Crosspoint Real Estate. The firm has previously consulted Transilvania Construcții in a separate deal worth €15 million that was closed in the second quarter of last year. 

Ionuț Stan, Associate Director of Crosspoint Real Estate, pointed out that Arad, Timișoara and Oradea can be amongst Romania’s main development poles in the western part of the country. 

At present, Transilvania Construcții owns a portfolio of over 250,000 sqm of built-up area of industrial and commercial properties.