Interest from both international and local investors has increased in 2024, and major transactions, such as the expansion of retailers LPP and Deichmann, confirm Romania’s position as a strategic distribution hub for Southeastern Europe.
The largest transaction of the year was the expansion of fashion retailer LPP, which leased 42,000 square meters of warehouse space in northern Bucharest, increasing its total footprint to over 130,000 square meters, making it one of the largest tenants in Romania.
Additionally, footwear retailer Deichmann pre-leased a 20,000-square-meter warehouse in Bucharest, which will be transformed into a regional distribution center. At the same time, auto parts manufacturer Federal Mogul signed a sale & leaseback agreement with WDP for its 19,000-square-meter factory in Ploiești.
Meanwhile, an important FMCG distribution network in the Romanian market has inaugurated its first temporary warehouse, covering 10,000 square meters in MLP Bucharest West. Furthermore, GXO completed the first phase of its project at the end of the year for retailer Trendyol, aiming at 50,000 square meters.
Romania’s industrial and logistics real estate market continued to grow in 2024, with deliveries totaling approximately 400,000 square meters, bringing the total stock to 7.4 million square meters, according to the annual report published by Colliers.
The year 2024 ended with lease agreements covering approximately 620,000 square meters, a decrease of around 20% compared to the near-record level reached in 2023, according to preliminary estimates. More than half of the industrial and logistics space leases were completed in Bucharest and its surrounding areas.