Unlike other segments of the real estate market, the logistics sector has benefited from the global context through a significant increase in the need for storage warehouses. This demand was mainly generated by the retail, e-commerce and FMCG sectors, with companies looking to maximize the operational efficiency and sales volume by shortening supply chains and delivery time to final consumers.
Profi, Carrefour, Selgros, IKEA, Brico Depot, XXXLutz, Mobexpert, Decathlon, LPP, Bebe Tei are just some of the retailers that signed relevant leasing contracts in 2020, along with other major online players such as Notino, Boutique Mall, epantofi.ro, elefant.ro, and mobilier1.ro.
Moreover, retail and e-commerce companies rented spaces with a total area of 454,000 sqm, or 46% in the traded volume. Other active sectors were logistics operators (14%), automotive (11%) and the pharmaceutical industry (8%).
Bucharest attracted 65% of the transacted volume last year, while Timisoara reconfirmed its position as the most active regional market, with almost 100,000 sqm transacted.
Cushman & Wakefield Echinox consultants said 2021 promises to be an equally dynamic and consistent year in terms of demand and new logistics projects, given that developers are already building spaces with a total area of approximately 450,000 sqm.
“Bucharest remains the most active market and around 60% of new deliveries are around the capital. Developments continue in key cities, with established economic and logistical potential, such as Cluj, Timisoara, Brasov, Ploiesti, Craiova or Sibiu,” said Andrei Brinzea, Partner, Land & Industrial Agency, Cushman & Wakefield Echinox.