15. Juni 2010 
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Industrial: The total take up of industrial space amounted 15,000 sq m in Bucharest
In the first quarter of 2010 the Romanian logistics market has registered a dynamic pace compared to the same period of 2009. The demand has been more active and developers started to become optimistic and confident in the economy’s rebound and especially the production & retail sectors.
Supply
In the first quarter of 2010 on the Bucharest logistics & industrial markets there have been two active developers, Millennium Logistic Park (12,000 sq m ongoing project) and Cefin Real Estate (10,000 sq m warehouse development).
In provincial Romania there are Ploiesti West Park, active with 20,000 sq m big box class A warehouse and Phoenix Helios with 24,000 sq m under construction, located in Timisoara.
The total modern stock is approximately 900,000 sq m in Bucharest and around 400,000 sq m outside the capital city, concentrated mainly in Timisoara, Arad, Ploiesti and Brasov.
Demand
The demand has been characterized by medium size requirements of 1,000 - 3,000 sq m, coming mainly from distribution companies. Retail and logistics sectors remained stable but with potential for growth. Total take-up levels amounted to 15,000 sq m in Bucharest, represented by only a few leases, the largest being of 6,000 sq m. In the rest of the country we have noticed high interest coming from retail and logistics companies, especially in the central part of Romania; however no major deal has been concluded yet.
Vacancy
The vacancy rate remained at 10 - 15% in Bucharest compared to other secondary cities in logistic centres such as Timisoara and Arad, where higher levels have been registered.
Land
In terms of new developments or land acquisition, we have seen a continuing interest coming from developers or end-users to identify the best opportunities in the market, with land prices decreasing in the past 18 months. Most of the requirements came from the production/logistics companies in order to develop their activities all over Romania, especially targeting cities such as Bucharest, Ploiesti, Craiova, Cluj, Timisoara and Brasov.
Supply
In the first quarter of 2010 on the Bucharest logistics & industrial markets there have been two active developers, Millennium Logistic Park (12,000 sq m ongoing project) and Cefin Real Estate (10,000 sq m warehouse development).
In provincial Romania there are Ploiesti West Park, active with 20,000 sq m big box class A warehouse and Phoenix Helios with 24,000 sq m under construction, located in Timisoara.
The total modern stock is approximately 900,000 sq m in Bucharest and around 400,000 sq m outside the capital city, concentrated mainly in Timisoara, Arad, Ploiesti and Brasov.
Demand
The demand has been characterized by medium size requirements of 1,000 - 3,000 sq m, coming mainly from distribution companies. Retail and logistics sectors remained stable but with potential for growth. Total take-up levels amounted to 15,000 sq m in Bucharest, represented by only a few leases, the largest being of 6,000 sq m. In the rest of the country we have noticed high interest coming from retail and logistics companies, especially in the central part of Romania; however no major deal has been concluded yet.
Vacancy
The vacancy rate remained at 10 - 15% in Bucharest compared to other secondary cities in logistic centres such as Timisoara and Arad, where higher levels have been registered.
Land
In terms of new developments or land acquisition, we have seen a continuing interest coming from developers or end-users to identify the best opportunities in the market, with land prices decreasing in the past 18 months. Most of the requirements came from the production/logistics companies in order to develop their activities all over Romania, especially targeting cities such as Bucharest, Ploiesti, Craiova, Cluj, Timisoara and Brasov.
