CTP is the first real estate developer to reach a historical milestone: 1 million sqm of built area spread in 13 logistics and industrial parks throughout Bucharest and nine other cities, strategically located in Romania.
Logistics real estate rent growth remained considerable in 2018, with rents rising 6% globally. Consistent with the past several years, the U.S. outperformed, with 8% growth. However, other regions were just as notable. China was a clear leader with 8% growth. In Europe, rents rose 5%, a near doubling in growth from 2017 and the fastest annual growth in the region based on data reaching back more than 10 years, according to new research by Prologis.
Total demand on the Budapest industrial market amounted to 105,070 sqm in Q4 2018, marking a 51% decrease from the figure noted in the same period last year. The Budapest Research Forum published its quarterly industrial market analysis.
MLP Group commenced the construction of its first logistics park in Romania. Work on a 12,000 sqm facility is currently underway. In total, over 22,000 sqm of modern warehousing space will be constructed at this stage of the project. Ultimately, 95,000 sqm of space will be available to tenants in MLP Bucharest West. Sagex Construct has been selected as the general contractor.
Industrial and logistics developer Element Industrial has received the building permit for ELI PARK 1 and has started the construction works. The park will offer 45,000 sqm of warehouse and office space following an investment of €25 million.
Panattoni Europe will increase the supply of warehouse space in Silesia, the key industrial hub of Central and Eastern Europe. The developer has just bought land for its new investment – Panattoni Park Czeladź III. The construction of the 68,000 sqm complex will commence this quarter, creating new jobs in the region.
Prologis has completed construction of two new speculative facilities totalling 25,300 square meters at Prologis Park Bratislava. The developments include 9,800 square meters in Building 14, of which 2,700 square meters are pre-leased to Electronic Star, an e-commerce retailer and 2,900 square meters to Blitshtein Trading, a food distributor serving major CEE markets, in addition to 15,500 square meters in Building 20.
In 2018, the Polish industrial market was driven by e-commerce which, in addition to generating strong take-up levels, reported new requirements regarding warehouse location and technical specifications, says Tom Listowski, Partner, Head of Industrial and Warehouse, CEE at Cresa.
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