“This is the first industrial park of the national network we plan to develop. (…) Since completing the project, we have reached 1000% occupancy in less than six months. This helps us speed up the development of our third project – Catted Business Park Stefanesti, to be delivered this year,” said Catted Group owner Tudor Cobalas.
Catted Business Park is a Class A project consisting of smaller storage or production halls, located north-west of Bucharest with direct access to he city’s ring-road. The park was completed in October 2020 and has a total area of 7,500 square meters, including 13 halls with lettable areas of 253-590 sqm.
“The spectacular evolution of the industrial market is also apparent on the smaller space niche, driven by rising demand from SMEs that benefited from state co-financing,” said Cosmin Dinu, Head of Industrial at real estate consultancy firm Activ Property Services.
Catted’s second project is located in Otopeni, north of Bucharest, and includes four halls close to completion. The space is currently 50% let or sold.
“Demand for small and medium-sized modern industrial spaces will continue growing in the following years as SMEs migrate from noncompetitive old stock on industrial platforms to modern project developed in metropolitan areas,” said Dinu.