CBRE: 94,300 sqm of industrial space rented last year locally

The industrial segment has seen a strong comeback last year, when a total of 39,500 sqm were rented in the second semester of 2010, and a total of 94,300 sqm throughout the year, a report by CB Richard Ellis Romania shows.

Some of the major transactions closed in the second semester of 2010 were: a division of Röchling-Automotive, AG&Co pre-leased 5,000 sqm in Warehouses De Pauw Pitesti, Geodis Calberson rented 17,400 sqm in Prologis Logistic Park, and Terwa rented 4,500 sqm in Olympian Park Brasov.

Bucharest dominated the rentals in 2010, as 53 percent of all transactions were closed here. The Bucharest industrial spaces market is dominated by the Western area, which has direct access to the A1 Bucharest – Pitesti highway, where over 75 percent of the stock can be found.

As far as the volume of transactions is concerned, Bucharest is followed by Timisoara (21 percent of the total), Oradea (13 percent) and Ploiesti (7 percent).

The level of prime rents for Bucharest in the second semester of 2010 was of EUR 4.15 per sqm per month. A total of 50,800 sqm new industrial space was delivered in the second semester of 2010. In total, the offer of new industrial space in Romania stood at 88,300 sqm.

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This year is expected to see and expansion of logistic and production activities in cities such as Ploiesti, Cluj Napoca, Timisoara and Arad, while in Bucharest the development activity will be focused on already operational facilities.