According to the real estate consultant, in this period was delivered an area of 27,000 new logistics and industrial spaces, while the request reached 180,000 sqm, the take-up being therefore almost seven times bigger.

The modern stock of spaces with logistic or industrial destination maintained at nearly 2.5 million square metres, with more than 1.2 million square metres built near Bucharest and 75 pct, of it near the A1 highway.

The asking rents for distribution facilities are estimated to 3.5-4.1 EUR/sqm/month, comparable to the industrial spaces rents (EUR 3.3-4.25).

The take-up has increased with nearly 40 pct. compared to last year, being made of new contracts only, leases of existing units, built speculatively, as well as built to suit projects. Most of the transactions were signed by logistic companies (40 pct), and the retail warehouses represented 30 pct of the total. Most of the request was generated by the region Bucharest-Ilfov (more than 97,000 m2, representing almost two thirds).

Another news coming from the developers in these conditions is a record level of spaces to be delivered on the market by the end of the year, being announced projects exceeding 400,000 square metres overall.
If all the announced project are completed, this year the new offer will exceed the one in 2016, when projects of nearly 330,000 square metres were delivered.

”Sustainable evolution of the industrial and logistic market in the last years led to the resuming of the banks’ appetite for financing such projects. Since 2008, the banks didn’t finance any logistic or industrial project. The banks are not yet financing speculative projects, but once started the construction with own capital and attracted the first tenants, the financers become interested for such projects too”, said Costin Bănică, Head of Industrial Agency JLL Romania.  (source:  capital.ro)