GE Real Estate, Helios Phoenix To Invest EUR10M In Two Logistics Parks

05.18.2011 By Andrei Circhelan

US GE Real Estate and Greek Helios Phoenix on Wednesday said they have completed the first phase of a 28,500-sqm logistics park in western Romanian city Timisoara, and they will soon start another two projects in the cities Cluj-Napoca and Constanta, for a total investment of EUR10 million.

This is the second logistics project unfolded by the two companies under the Olympian park brand. The first project spans over 18,500 sqm and it is located in central city Brasov.

Helios Phoenix senior project surveyor Alexander D.W. Poole said the Timisoara park does not have any tenants yet, but negotiations are currently under way with several companies.

The Brasov project is 45% rented by Terwa Romania.

The project company holds some 50 hectares of land in Romania, and it plans to develop logistics projects spanning over a total surface of 360,000 sqm.