The inventory of industrial and logistic spaces in Romania reached 3.42 million square meters at the end of the third quarter of this year, almost 90% of which are located in Bucharest, Timisoara, Cluj-Napoca, Pitesti, Ploiesti, Sibiu , Arad, cities that have connections to the local highway network, according to the Romania Industrial & Logistics Market report by the Cushman & Wakefield Echinox real estate consultancy firm.
Other cities where modern logistics parks have been developed, but which do not have direct access to high-speed roads, are Iasi, Ramnicu Valcea, Braila or Roman, where the projects are mostly punctual, being made at the express request of an occupant.
Bucharest now has a stock of more than 1.6 million square meters of storage space, accounting for 48% of the total stock, the capital being followed by Timisoara (440,000 sqm), Cluj-Napoca (254,000 sqm), Ploiesti (240,000 sqm ) and Pitesti (240,000 sqm), the report also reports.
In the first nine months of the year, new spaces of 380,000 square meters were delivered, while in the last quarter developers would finish another 200,000 square meters, a record level for the Romanian market.
Rodica Târcavu, Partner, Industrial Agency, Cushman & Wakefield Echinox: "We have noticed a more dynamic market activity over the past three months, with active requests from logistics companies involved in various projects and auctions. The most interesting area is still Bucharest, being the city with the largest stock (over 1.6 million square meters) and attractive new deliveries prospects in 2019. The large cities with tradition and industrial development are on the expansion map of the tenants, too, such as Timisoara, Cluj, Sibiu, but also a growing interest in the Eastern region of Romania, such as Bacau or Iasi. Year 2018 was one of retailers and distributors who have consolidated or made large moves, estimating that we will also witness important transactions in 2019 on this segment. " (source: bursa.ro)
