"The final area rented this year is 150,000-170,000 sq. m compared to approx. 70,000 sq. m last year. This year the secondary markets outside Bucharest have developed quite well, the most wanted destinations including Pitesti and Ploiesti, followed by Western Romania as well as, slightly, the North-Eastern", Orzu added.
The average area transacted was approx. 5,000 sq. m, with the manufacturing field as leader for industrial facilities requests for 2013.
"I believe the same thing is about to happen next year, given that the logistics still didn’t recovered regarding requests. The market this year was much more active than last year also as due to the political instability in 2012 many projects were put on hold and resumed in 2013, when they were completed too", the real estate company representative said.
Regarding the new industrial projects, in 2013 the developers didn’t build much speculatively, but only when they had clients.
The built to suit category includes the park developed by the Belgian company WDP in Brasov for the company Inter Cars or the one built by Alinso Group in Ploiesti for the company Coficab.
On the other hand, the Czech company VGP has built speculatively in Timisoara 10,000 sq. m industrial facilities, subsequently rented and has started the construction of another 7,000 sq. m. Tester group also built speculatively in Iasi in Solo Industrial Park, a project rented by CBRE to the American company Lear Corp.
The industrial department within CBRE Romania has transacted more than 80,000 sq. m industrial facilities in 2013, with more than 40% transactions for manufacturers.
The industrial facilities rents maintained in 2013 to EUR 3.3 – EUR 3.8 /sq. m and there is no changed expected for this year.
According to Royal Institute of Chartered Surveyors (RICS) Romania, the total stock of industrial and logistic facilities is less than 2 million square metres, with half of it situated in Bucharest outskirts. The vacancy rate situates around 12-14%, though with important differences between the country’s zones. (source: wall-street.ro)
