People of Cushman & Wakefield Echinox
Bucharest, July 2024: Crane ChemPharma & Energy, a global industrial manufacturer and subsidiary of Crane Company, secured a lease for 3,000 square meters of production space within Industra Park Arad in Romania, developed by Oresa Industra. This initiative, facilitated by the real estate consultancy firm Cushman & Wakefield Echinox, strengthens Crane ChemPharma & Energy’s manufacturing footprint in the region.
Crane Company has delivered innovation and technology-led solutions to its customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process flow industry end markets.
Stefan Surcel, Head of Industrial Agency Cushman & Wakefield Echinox: “Over the past three years, production companies have been highly active in the industrial and logistics rental market. Developers are keen to construct new, modern parks to meet the demand from both international and local players. Industra Park Arad, the latest industrial park in Arad, fulfills all the requirements of Crane ChemPharma & Energy, a company focused on manufacturing products with a high level of innovation and technology.”
Industra Park Arad, a premium location in Arad, has an area of 33,000 square meters and is to be delivered this year and is in the portfolio of Oresa Industra, the real-estate division of Oresa family office.
Loredana Brehuescu, Investment & Leasing Manager Oresa Industra: “The Arad project is the largest industrial park developed in the city in the past 16 years. It is the successful conversion of a former shopping gallery into a modern space that meets all the standards and requirements of the industrial and logistics market. Currently, the park has an occupancy rate of 40% and accommodates tenants from both the industrial and logistics and commercial sectors. Arad is the second largest logistics hub in the Western region in terms of such spaces, a stock that is rented almost entirely, what shows the significant interest of companies in this city.”
Oresa Industra is the main player on the industrial and logistics market in Iasi, after delivering last year 10,000 square meters of such spaces within Industra Park Iasi, thus reaching a total leasable area of 35,000 square meters. The spaces within the park in Iasi are 100% rented, among the tenants being companies such as LEAR Coorporation, Ropharma, Antalis or Side Grup.
Oresa Industra is active on the logistics and industrial space market and continues to invest in expanding the logistics park in Iasi this year, with another 15,000 square meters. Oresa is a Swedish family-owned investment company, active in Central and Eastern Europe since 1995 and with an active presence in Romania.
Crane Company is comprised of two strategic growth platforms, Aerospace & Electronics and Process Flow Technologies, as well as the Engineered Materials segment. Crane has approximately 7,000 employees in the Americas, Europe, the Middle East, Asia and Australia. For more information, visit www.craneco.com
