In August, 2021, Cushman & Wakefield Echinox reported that 360,000 square meters of industrial and logistics spaces were leased in the first semester of 2021 across Romania – a 21% increase compared to the same period of 2020.
Halfway through the year, contract renewals represented 16% of the transactional volume, thus demand was primarily driven by new leases and relocation projects. Bucharest attracted almost 63% of the transactional volume, followed by Sibiu with a 7% share, and Timisoara and Pitesti, with 6% each. Among the most important transactions in Q2 were the agreement for the renewal and extension of the Altex warehouse within the P3 Bucharest A1 project and the 9,000 square meter warehouse lease by A&D Pharma within CTPark Sibiu.
Among new deliveries were a 70,000 square meter building within CTPark Bucharest West, along with the 58,000 square meter Profi distribution center delivered by WDP in Craiova, and the 30,400 square meter building part of the VGP Park project from Timisoara. Currently, developers have new spaces with a total area of over 630,000 square meters under construction, of which Bucharest accounts for 400,000 square meters.
“The logistics and industrial market continued its evolution in the first part of this year, as we could witness a good balance between supply and demand both in Bucharest and in the representative cities,” concluded Cushman & Wakefield Echinox Partner for Industrial Agency Rodica Tarcavu.