The local market for logistics and industrial spaces accelerated expansion in 2020 both in terms of demand, which approached the threshold of 1 million sqm, and in terms of deliveries of new spaces, which reached an area of 649,000 sqm, both indicators reaching new records, according to real estate consulting company Cushman & Wakefield Echinox.
Unlike other segments of the real estate market, the logistics sector benefited from the context created by the global situation through a significant increase in the need for storage space. This demand was mainly generated by the retail, e-commerce, and FMCG sectors, with companies seeking to maximize their operational efficiency and sales volume by shortening supply chains and delivery times to final consumers.
Profi, Carrefour, Selgros, IKEA, Brico Depot, XXXLutz, Mobexpert, Decathlon, LPP, or Bebe Tei are just some of the retailers that signed relevant leases in 2020, along with other major online players such as Notino, Boutique Mall, epantofi.ro, elefant.ro or mobilier1.ro. Moreover, the retail and e-commerce companies rented spaces with a cumulative area of 454,000 sqm, with a market share of 46% in the traded volume. Other active sectors were logistics operators (14%), automotive (11%), and the pharmaceutical industry (8%).
Bucharest attracted 65% of the traded volume last year, while Timișoara reconfirmed its position as the most active regional market, with almost 100,000 sqm traded.
"2021 promises to be an equally dynamic and consistent year in terms of demand and new logistics projects, given that developers are already building spaces with a cumulative area of approximately 450,000 sqm. Bucharest remains the most active market, around 60% of the new deliveries being concentrated around the Capital. Developments continue in key cities, with established economic and logistical potential, such as Cluj, Timisoara, Brasov, Ploiesti, Craiova or Sibiu ", says Andrei Brinzea, Partner, Land & Industrial Agency, Cushman & Wakefield Echinox.
