At the end of H1 2016, Romania’s industrial & logistics stock reached 2.3 million sq. m. With a stock higher than 1 million sq. m, Bucharest accounts for 45%. Outside Bucharest, existing supply amounts 1.29 million sq. m. The largest regional markets are Timisoara, with12% share of the total stock, Ploiesti – 11%, Pitesti and Brasov, both with a share of 7%.
In the first half of 2016, 170,000 sq. m of industrial & logistics spaces were delivered, ~60% being completed in Bucharest. The regional cities attracted the rest, the most active markets being Cluj, with a share of 15%, Ploiesti – 11% and Pitesti – 10%. The largest project delivered in the first half of 2016 was a 47,000 sq. m warehouse for a large food retailer, in P3 Park Bucharest.
For the second half of the year, approx. 230,000 sq. m are expected to be delivered, out of which 60% will be completed outside Bucharest
Throughout H1 2016, around 225,000 sq. m were transacted, volume higher by 95% compared with the same period last year. With 155,000 sq. m, net take-up represented ~ 70% and was divided equally between Bucharest and the regional cities.
Pre-lease activity was higher by 40% y-o-y. In total, 58,000 sq. m were the subject of pre-lease agreements. Also, the largest deal in H1 2016 was a pre-lease transaction closed outside Bucharest (Yazaki – 29,000 sq. m leased in WDP Park Braila).
By the number transactions, the most active market outside Bucharest was Timisoara. In total, the area attracted 20% of the net take-up recorded throughout the first half of 2016.