Real estate investment company Valad Europe has leased 4,300 sqm of warehouse and office space at the A1 Business Park in Bucharest to Valsider Production, a sister company of the Italian steel giant, Cordioli. The value of the four-year lease is of EUR 800,000, the company has said.

Located on the A1 Highway, the A1 Business Park is owned by Valad’s Central European Investment Fund. Its existing tenants include DHL, Dobrogea, Heinrig and Decomar Logistics, which leased 1,800 sqm from Valad in June 2010.

“The A1 Business Park’s strategic location, next to one of the key transport routes in Romania, together with its modern office space, made it a perfect match for our business. We are looking forward to using it as a base to expand our Romanian operations,” said Jacopo Palermo, General Manager of Valsider.

Valad has let over 15,000 sqm of space in Romania and 75,000 sqm across the whole of the Central and Eastern Europe region so far this year, through both lease renewals and new lettings. Valad manages more than 600,000 sq m of space in CEE and employs 16 people across its four offices in Romania, Poland, Hungary and Czech Republic.

Valad Property Group is an investment manager with an international network of local offices managing over EUR 6.2 billion globally. The fund is listed on the Australian Stock Exchange.

Romania-insider.com