Demand for logistics and industrial spaces reached 562.000 sqm in the first 9 months

Demand for logistics and industrial spaces reached 562.000 sqm during the first 9 months of this year, a slight decrease of only 3% compared with the same period of 2020.

The leasing activity was driven mostly by new demand, which accounted for 86% of the transacted volume, according to Cushman & Wakefield Echinox.

The demand for logistics spaces remained solid in Q3 2021, a total leasing activity of 202,000 sqm being recorded.

Renewals accounted for only 14% of the transacted volume, thus the vacancy rate in Bucharest continued to decrease, reaching 5.6%, with an overall level of 4.7% across Romania.

Bucharest remains the preferred destination for companies in search of industrial and logistics spaces, having a share of 65% of the Q1-Q3 transacted volume.

Amongst the most significant deals signed in Q3 2021 we could mention the 12,000 sqm pre-lease closed by CTP with Rohlik in CTPark Bucharest North.

KLG’s 6,000 sqm expansion in CTPark Bucharest West and Bohnenkamp’s 6,000 sqm new lease in ELI Park, follows.

Construction activity went ahead full speed on several sites during the summer, as developers managed to deliver new buildings with a total area of over 130,000 sqm.

In total, the new supply reached 338,600 sq.m in the first 9 months of the year, while premises of over 260,000 sq.m are under construction and are expected to be delivered by the end of this year.

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