The industrial and logistics market in Romania continues to grow in terms of leasing activity and supply of new projects, with some 800,000 sqm in new stock under development at present.
The leasing warehouses rose to around 394,000 sqm in the first half of this year, compared to 289,000 sqm in the same period of 2020, according to a report by real estate consultancy Colliers.
The logistics sector generated nearly 40% of all deals, followed by automotive with 22% and retail/FMCG with a share of 12%.
“Deliveries continue to be mostly around the Bucharest area, but not only, as quite a lot of regions in Transylvania remain attractive and some others in southern Romania are also on the map,” says Lucian Opriș, Associate Director Industrial Agency at Colliers.
The biggest transaction closed in the first semester was CTP’s 102,000 built-to-suit project for Quehenberger Logistics near Bucharest. The second largest deal was Dacia’s 10-year renewal of its 69,000 sqm Globalworth-owned warehouse in Pitești.
Some 5.3 million sqm of industrial and logistics spaces were operational at the end of last year and some of the projects under development this year could be delivered in 2022.
Vacancy for prime warehouse spaces averaged at 7-8%, while rents stood at €3.8 – €3.9 per sqm for prime properties around Bucharest and lower in most other parts of the country.
“For now, as long as the favourable economic trends hold and infrastructure investment promises are met, the outlook for the industrial and logistics market in Romania is as optimistic as possible,” concluded Opriș.