At the half-year, 86% of the area transacted was represented by new contracts and relocation projects, with the remaining 14% resulting from contract renewals.
Bucharest attracted more than 54% of the transacted volume, with significant activity also seen in Ploiesti (16%), Timisoara (6%) and Cluj (3%).
The real estate consultancy company’s report shows that the largest transaction recorded in the second quarter was closed by online retailer Modivo /epantofi.ro, with 53,000 square meters in WDP Park Stefanesti, representing an expansion of 37,000 square meters and the renewal of the contract for the 16,000 square meters it already occupies in the project.
Moreover, demand was mainly driven by retail and e-commerce companies (28% of the leased space in the second quarter), logistics and distribution (11%) and automotive (5%).
In the second quarter of 2022, the volume transacted was around 240,000 square meters, which added to the more than 300,000 square meters let in the first three months of the year.
“The second half of the year is under inflationary pressures, as well as the increase in the cost of new construction, but the market is likely to reach at least the 2021 level in terms of demand for rented space,” says Andrei Brinzea, partner, Land & Industrial Agency, Cushman & Wakefield Echinox.
(English version by Loredana Fratila-Cristescu)