The market of industrial spaces continues to develop in the western part of the country, after the stock has doubled in the last 10 years, becoming the second largest market after Bucharest, according to CBRE data, leading real estate consultancy company. CBRE has recently advised the courier company Sameday in the process of leasing a 2,300 sqm area in the VGP industrial Park Timisoara.
“Logistics spaces established in key locations have proven their worth in recent months, being vital for timely product delivery. As a property developer, VGP has provided Sameday with all the flexibility needed in terms of custom solutions and timely space delivery. We have thus reached 140,000 sqm of industrial space in Romania and we keep on growing”, stated Stefan Radeanu, Commercial Manager, VGP Romania.
The west of the country (Timis, Arad and Bihor counties) has become attractive for courier companies, supporting their need to reduce delivery times to 24 hours or less. CBRE covers the western part of the country through a team dedicated to the industrial sector, coordinated from Timisoara by Madalin Aresmeritoaie, Senior Advisor.
“The relocation of Sameday reaffirms the potential of the western area for the industrial sector. This area continues to be productive, in terms of both demand and supply for industrial spaces. The current stock of 700,000 sqm has a vacancy rate of 5.2 percent and an area of 75,000 sqm of industrial spaces is under construction in Timisoara, Arad and Bihor counties and will be delivered by the end of the year”, explained Madalin Aresmeritoaie, Senior Advisor, Industrial Services, CBRE Romania.
Almost 77,000 sqm of industrial spaces have been rented in western Romania in the last 15 months, CBRE having 19 percent of the total market share represented by real estate consultancy companies. Additionally, CBRE Romania has recently advised the lease of 18,000 sqm in Timisoara Industrial Park II project for the companies NDB Logistica, provider of integrated logistics services and DS Smith, a leading international company in the packaging field