MLP Group has completed phase two expansion of MLP Bucharest West, its logistics park near Romania’s capital city. The new facility has delivered 16,000 sqm of space designed to contemporary standards, which has already been fully leased.
NEPI Rockcastle, the largest investor, developer and owner of shopping centers in Central and Eastern Europe, sold the company Otopeni Warehouse and Logistics SRL to River Property in January 2024.
CTP, Europe's largest listed developer, owner, and manager of industrial and logistics properties by gross lettable area (GLA), is strengthening its Romanian team with the appointment of Andrei Brinzea as Business Development Director.
The Romanian investment market recorded transactions of around 476 million euros last year, down by more than half over 2022’s cycle high of 1.25 billion euros, according to the 2023 Annual Report released by Colliers.
Commenting on the results, Michael Slattery, Chief Executive Officer of Logicor, said: „2023 was a pivotal year for Logicor and we have reported an excellent set of operating and financial results."
Nunner Logistics, an international provider of logistics services headquartered in The Netherlands, has recently signed a 5,000 sqm lease at VLParks Bucharest West, part of the Villar International Group.
Construction and real estate sectors are among the most cyclical sectors. Sensitive to changes in the labour market, prices in commodities and, first and foremost, the interest rate environment and accessibility of credit, they are currently under strain. And things are unlikely to get any better in 2024, according to a survey by Coface.
Real estate investment transactions amounting to more than €600 million are currently in advanced stages of negotiation, as the volume registered throughout 2023 could be matched in the first half of this year, according to data from the Cushman & Wakefield Echinox real estate consultancy company. Ongoing negotiations target office buildings (30% of the value above), retail projects (30%) and logistics parks (40%), with around half of the assets being located in Bucharest.
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