In 2020, transactions on the market saw a record high, with over 930,000 sqm leased.
Capital city Bucharest and Timis County dominate the ranking of the most dynamic regions, with 240,000 sqm under construction.
CBRE has recently brokered the extension of the lease contract for a space of approximately 85,000 square meters occupied by Carrefour Group within the P3 Bucharest A1 industrial park located in western Bucharest. The extension of the lease contract for Carrefour’s 85,000 sqm warehouse is one of the largest transactions ever concluded on the Romanian logistics market.
Some of the largest transactions concluded in 2020 include: Ikea (70,000 sqm within CTPark Bucharest West) and Profi (58,500 sqm and 57,000 sqm, respectively, within WDP Timisoara and WDP Craiova).
Countrywide, some 400,000 sqm of industrial spaces are currently under construction, with an area of over 60% being pre-leased already. In 2020, the industrial space stock in Romania increased by over 570,000 sqm.
With an existing stock of 2.3 million sqm, Bucharest and its surroundings, respectively Ilfov County, continues to attract the largest volume of new developments, with over 140,000 sqm under construction.
Romania’s northern and north-western regions, which include Timisoara, Arad and Cluj-Napoca, come next with a stock of 1.2 million sqm. In this area, real estate developers have approximately 130,000 sqm under construction, of which over 100,000 sqm located in Timis County, per Romania Industrial Destinations report.
Central Romania, which includes the towns and cities of Deva, Sibiu, Targu-Mures and Brasov, is another dynamic region in terms of new projects, boasting a stock of approximately 670,000 sqm that is expected to grow 10% in 2021 alone, of which approximately 15,000 sqm under construction in Brasov.
In the next five years, the industrial space stock is expected to grow over 50%, up to 8 million sqm.