The investment fund Secure Property Development & Investment (SPDI) has recently announced the modifications of the terms of the sale agreement and leasing closed with Piraeus Bank for Innovations Logistics Park in Clinceni, near Bucharest, after the departure of the main tenant of the park, Nestle, has cancelled the lease for the warehouse space before the term

Innovations Logistics Park was completed in December 2008 and includes nearly 8,471 sqm of multifunctional storage space, 6,394 sqm of cold warehouse and 1,705 sqm of offices. The logistics park is made of four warehouses, including two cold warehouses.

Last summer, Nestle Romania, which had leased nearly 60 pct. of the spaces within Innovations Logistics Park until 2018, decided to cancel the lease with SPDI, following a program started by the Swiss group Nestle for the restructuration of its operations on the ice-cream segment.

Nestle paid EUR 1.39 million damages to the fund for the cancelation of the lease before the term.

Apart Innovations Logistics Park, SPDI also owns in Romania assets of EUR 50 million, including flats in the residential complexes Romfelt Plaza, Monaco Towers, Blooming House and Green Lake, all in Bucharest, EOS Business Park – the headquarters of Danone, the quarters of the Praktiker store in Craiova, a quarter of the office building Delea Nouă in Bucharest, headquarters of ANCOM and a 4 ha plot of land near Pantelimon lake.

The fund has the biggest exposure in Romania (40 pct of the portfolio) and it is also present in Ukraine, Greece and Bulgaria. (source: profit.ro)