"The demand for industrial premises is maintained at a high level and confirms the clients' appetite for expansion, proof being that in the first nine months of this year the total volume represents 98% of the total volume registered in the year 2016", says Costin Banică, Associate Director, Head of Industrial Agency JLL Romania.

More than 70% of the traded area, namely 330,000 square meters, represents new demand (new contracts, pre-rentals), its share of the total traded increased compared to the same period last year, reflected in the lower rates of the degree of vacancy.

At the same time, renegotiations and contract renewals have cumulated 126,000 square meters of industrial and logistics space, according to JJL data.

Apart from Bucharest, the cities of Pitesti (50,000 sqm), Timisoara (45,000 sqm), Roman (31,000 sqm) and Cluj (25,250 sqm) managed to conclude significant transactions in the industrial and logistics segment during the analyzed period.

In terms of supply, over the first nine months, projects totaling more than 210,000 square meters have been delivered across the country, so the stock at the end of September was nearly 3 million square meters, of which 1.5 million square meters in Bucharest.

Another 140,000 square meters of industrial space are announced to be delivered this year, both new and existing extensions, leading to the overall level of deliveries of industrial spaces over the one recorded in 2016 and confirming the appetite of customers and developers for expansion. The vacancy rate is below 5% in Bucharest and 7-10% outside the capital.

"The supply of industrial premises has kept pace with increased demand. Investors have tasted this year's success of speculative developments and have enjoyed high demand for this type of space as well. The tenants have preserved their preference for the construction sites and have focused mainly on projects under development, to the detriment of those still in the project stage", commented Costin Bănică, Associate Director, Head of Industrial Agency JLL Romania.
Rents are kept constant, their level being influenced, only punctually, by the vacancy rate of each project. (source: constructiv.ro)