Romanian industrial and logistics spaces stock exceeded 7 million sq. m

The modern stock of industrial and logistics spaces exceeded 7 million sq. m across the country at the end of 2023, almost 80% of the total stock being concentrated in Bucharest-Ilfov, West and South-Muntenia.

Projects with a total area of around 452,000 sq. m were delivered in Romania in 2023, corresponding to a 46% decrease compared with the previous year, according to data from Cushman & Wakefield Echinox.

Developers have announced the delivery of more than 500,000 sq. m of new industrial and logistics parks in 2024, with Bucharest-Ilfov having the largest share (180,000 sq. m), followed by the West (144,000 sq. m) region.

The total annual take-up surpassed 1 million sq. m, in line with the levels reported in the 3 years beforehand, with almost 300,000 sq. m being transacted in Q4. Compared with 2022, the total take-up was 23% lower.

Bucharest attracted 48% of the total take-up in 2023, with Timisoara (121,600 sq. m) being the only other location with a gross take-up exceeding 100,000 sq. m throughout the year.

SEE ALSO: Dacia extended its lease for the 69,000 sqm occupied in Pitești Industrial Park

Logistics and distribution operators were the most active players on the market, with 300,000 sq m. of warehouse spaces being leased, followed by automotive (106,000 sq. m), retail, e-commerce and FMCG companies with 93,000 sq. m and pharma (41,000 sq. m).

The prime headline rents in Bucharest and in the main industrial & logistics destinations in Romania slightly increased at levels ranging between €4.30 – €4.70/ sq. m/ month in Q4 2023.

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