Logistic space demand rose 40% on the year in January-March, while all the traded surface area, of 180,000 sqm, represented net demand, namely new contracts and built to suit contracts.
Of the total, 70,000 sqm, or 40%, are spaces leased by logistic companies, while retailers signed transactions for 53,000 sqm, or 30% of the total.
For the end of the year, developers announced a record level of 400,000 sqm of new projects, as the low vacancy rate and the record demand encouraged them to expand the already existing parks or start the construction of new ones. If all announced projects are finalized, new projects will exceed last year’s level of 330,000 sqm of delivered space.
The vacancy rate of industrial and logistic spaces in Bucharest reached nearly zero on the backdrop of low deliveries of new projects and in the context of higher demand in the first quarter.
In January-March, only 27,000 sqm of industrial spaces were delivered, while the net demand was almost sevenfold higher, of approximately 180,000 sqm.
Under the circumstances, the stock of modern logistic and industrial spaces remained at 2.5 million sqm, or 128 sqm per 1,000 inhabitants, below the level registered in Central and Eastern Europe. Over 1.2 million sqm are built around Bucharest, of which 75% alongside A1 highway.