Agricultural products maker Corteva has pre-leased around 23,000 sqm of industrial space in a built-to-suit warehouse located in northeastern Bucharest.
The project is located close to Corteva’s production facility and provides good road access to Muntenia, Dobrogea and Moldova regions. The warehouse will be delivered by Lazar Real Estate, part of International Lazar group, by the end of this year and will include facilities for the storage of seeds.
“This marks the largest new demand in the first quarter as 2021 started in a fast pace, with all the prerequisites to be an excellent year for the Romanian industrial market,” stated Tudor Iuga, Senior Consultant in the Industrial Services department of CBRE Romania, who represented Corteva in this deal.
Bucharest and Ilfov continue to attract the largest volume of new industrial developments with an existing stock of 2.3 million sqm and ongoing developments of 140,000 sqm of new spaces, according to a CBRE report.
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