Solid demand, despite Covid-19
The Industrial and Logistics markets had a promising start in 2020, with both demand and supply at almost similar levels compared to Q1 2019. Total leasing activity was 97,000 sq. m in Q1 2020, while completions reached 157,000 sq. m, compared to 152,000 sq. m in Q1 2019.
Demand is driven from a variety of sectors
Logistics (39% market share) and Production companies (27%) were the most active in terms of demand, but we noticed that companies from all the major sectors leased new spaces. Bucharest remained the most active market, attracting almost 65% of the total demand for Industrial and Logistics spaces during Q1 2020.