CBRE advised Corteva in the pre-lease of approximately 23,000 sq m of industrial space in a built-to-suit warehouse.
The new project is located in the north-east of Bucharest and is developed by Lazar Real Estate, part of International Lazar group.
The buil-to-suit warehouse is located in Sindrilita village, at 6 km distance from Corteva currently production facility and 14 km from Bucharest Ring Road.
The project will be delivered by Lazar Real Estate by the end of this year, with special technical specifications for agricultural seed depots, meaning lower height and controlled temperature of 10-12 degrees, but also humidity of 50%.
On the industrial Romanian market, the total leasing activity in the first quarter counted approximately 216,000 sq m, with 17% more compared with the first quarter of 2020.
Over 96,300 sq m of the volume leased this year were concluded in Bucharest and its surroundings.
With an existing stock of 2.3 million sq m, Bucharest and Ilfov continue to attract the largest volume of new industrial developments, having with 140,000 sq m currently under construction