The lease adds a significant anchor to Element Industrial’s portfolio and fits in the mix of tenants the developer targeted since inception. A first phase of Eli Park 3 covering 18,500 sq. m. had already been completed in April 2022 and almost completely leased to a mix of tenants with business in e-commerce, production and B2B retail. A second phase of Eli Park 3 covering 30,000 sq. m., in which FERRO Romania will be located, is currently being developed and is foreseen to be delivered in Q4 2022.
Element Industrial, part of Element Group, is the most dynamic newcomer in logistics market with interest in several projects in Bacău, Ploiești, Brăila or Buftea and goals to develop 500,000 sq. m. of Class A logistics projects by the end of 2026.
FERRO Romania is the local division of the Polish FERRO Group – one of the largest manufacturers of sanitary and installation fittings in Central and Eastern Europe. The Group sells faucets, showers, bathroom accessories, valves, manifolds, pumps and radiators in over 30 countries spread across two continents, both under its own brand and under the brands of its clients.
The Stratulat Albulescu team was coordinated by Managing Partner Silviu Stratulat and included Senior Associate Daiana Assoum and Associate Irina Caragea.