Leasing volumes in the Romanian industrial and logistics market rose by 50% to 542,000 sqm compared to the same period of last year, with more than half of the activity being generated around Bucharest.
Demand was driven mainly by retail and e-commerce (28%), along with logistics and distribution (11%) and automotive (5%) as shares of the closed leased deals, according to a report by real estate consultancy Cushman & Wakefield Echinox. A net take-up of 86% was recorded in H1, while the remaining 14% consisted of contract renewals and renegotiations.
The largest transaction closed in Q2 2022 pertained to the 53,000 sqm expansion (37,000 sqm) and renegotiation (16,000 sqm) of the Modivo/epantofi.ro space within WDP Park Ștefănești.
“The industrial and logistics market continues to have a balanced evolution in terms of supply and demand, as we witnessed a national vacancy rate decrease below 4%, the lowest level recorded during the last five quarters. The second half of the year is marked by inflationary pressures and also by the increase in construction costs, but the market should still be able to reach at least the 2021 levels in terms of demand,” said Andrei Brînzea, Partner, Land & Industrial Agency, Cushman & Wakefield Echinox.
The most important deliveries comprised the new 35,000 sqm A&D Pharma warehouse within CTPark Mogoșoaia, along with a new 19,000 sqm phase of the Timișoara Industrial Park delivered by Globalworth - Global Vision.
The industrial stock is set to exceed 6 million sqm by the end of 2022, with new projects of almost 600,000 sqm under development.
