JLL assists GSK in selling Romanian factory to Hexagon Retail Properties

JLL represented GSK in the sale of the Ferrosan plant in Cluj-Napoca to Hexagon Retail Properties, a privately held group involved in real estate and retail projects in Cluj-Napoca and Bucharest.

The construction of the factory was completed in 2015, and the property has access to the European road E81 and the A3 motorway and can be used for multiple purposes – last-mile deliveries, logistics or warehousing. The space consists of a separate office building of 2,000 sqm, approximately 3,800 sqm of warehouses and approximately 12,800 sqm of land.

The sale process lasted a little over one year, and its completion was marked in December 2021.

Globally, GSK is one of the leading players in the medical field and entered the Romanian market over 30 years ago. The factory in Cluj reached their portfolio in 2019, following an international joint venture formed with Pfizer.

GSK was assisted in all legal aspects of the transaction of lawyers from Bancila, Diaconu and Asociatii SPRL through the team formed by Roxana Dudau and Alexandra Siminiceanu, and Hexagon was legally advised by the law firm Popovici Nitu Stoica & Asociatii (PNSA) .

“The real estate market in Cluj-Napoca is constantly evolving, the dynamics of the market are changing very quickly, especially in the surrounding areas, where industrial locations have been easily absorbed by Residential and Retail. The joint effort led to the successful completion of the entire process within the set timeframe,” said Valentin Achim, Senior Consultant JLL Romania.