Logistics demand hits new records
The demand for Logistics space reached a new quarterly record in Q3 2020, with a total leasing activity of almost 285,000 sq. m, up 42% when compared to Q2 2020 and four-times higher compared to the same period last year. The transactional volume for the first nine months reached 581,000 sq. m, reflecting a 94% y-o-y growth. Bucharest attracted almost 90% of the total take-up in Q3 2020, as the Capital city is becoming the preferred location for developing regional hubs by several retailers. During Q3 2020, developers delivered new spaces of 155,000 sq. m, lifting the Q1-Q3 2020 new supply at 356,000 sq. m.