DTZ: Logistics and industrial area stock reaches 1.8 million sqm in H1

The modern stock of logistic and industrial areas reached 1.8 million sqm at the end of the first semester, 2014, about 53 per cent of these areas (950,000 sqm) being in Bucharest, according to the DTZ Research study. Other towns with important industrial and logistic areas are Ploiesti, Timisoara, Brasov, Pitesti, Arad and Cluj Napoca.

2014-09-30 15:16:18

The overall volume of rentals in the first 6 months was 89,000 sqm, the new demand representing 70 per cent of this volume, with 61,000 sqm negotiated, while 28,000 sqm were re-negotiated or extended contracts. In Bucharest, the volume of rentals was of 34,000 sqm (46 per cent of national total)the demand representing 90 per cent of transactions. Most of the demand was generated by companies from the production sector, followed by logistic, automotive and retail companies.

The average vacancy rate of logistic and industrial areas in Romania is 8 per cent while in Bucharest it is 10 per cent. Towns like Cluj, Brasov, Pitesti and Oradea register a rate under 2 per cent.

The value of rent did not change in the first half of the year. Premium rents for modern deposits are between 3.6 and 3.9 euro/sqm/month, the net effective rent being 10-20 per cent lower. Compared to the same period of 2013, premium rents dropped by 5 per cent. For units with areas under 5,000 sq.m, the rent level is slightly higher. For B class areas rents vary between 2.5 and 3 euro/sqm/month.

The average area in demand in the first semester 2014 was of 3,500 sq.m, which points out the tenants cautious attitude about the expansion strategy, preferring the increase of the rented area in stages.