The Central and Eastern European (CEE) industrial real estate market slowed down in the first quarter of 2024, following a period of sustained growth and record activity in 2021 and 2022, a study by iO Partners shows.
CTP, Europe's largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), expands its partnership with Cargus, one of the most important courier companies in Romania, with the inauguration of a new location in Sibiu. This development underscores CTP's commitment to fostering strategic alliances and supporting the growth of its partners.
RetuRO, the administrator of the Deposit-Return System, the largest circular economy project in Romania, opens its fourth regional center for counting and sorting DRS packaging in Otopeni, Ilfov County. Located within the Olympian Park North Bucharest industrial park, the center will manage and process beverage packaging collected both manually, from retailers, and from reverse vending machines (RVMs).
Companies leased approximately 200,000 sq. m of industrial and logistics spaces in Q1, the demand being primarily generated by manufacturing companies, FMCG and logistics operators, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Romania ranked second regionally in terms of the Q1 demand, after Poland, the uncontested leader in the Central and Eastern Europe, while surpassing Czechia, Slovakia and Hungary.
Maracana, a company specialising in transport, warehousing, logistics and distribution services, has renewed its lease contract for 5,000 sqm at the MLP Bucharest West logistics park.
Romania’s largest distributor of household appliances and home electronics has renewed its lease contract for more than 8,100 sqm of space at the MLP Bucharest West logistics park.
ELI Parks, one of the most active developers on the logistics and industrial real estate market in Romania, has leased a 5,400 sqm space to the animal product distribution company Altius and its affiliate company PetMart, within ELI Park 4 Bucharest.
Mobexpert, the furniture market leader in Romania, expands its logistics and storage operations by leasing 1,400 sq. m within Oresa Industra Park in Iasi, owned by Oresa Industra, the real estate division of the Oresa family office. The Oresa Industra Park in Iasi reached a 100% occupancy as a result of this transaction.
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