Online retailers made up 30 percent of of the lease volume on the Romanian logistics market in 2017. The industrial sector has seen rapid growth and the trend is expected to continue for the next two to three years as the country’s economy continues to strengthen, Nestor Myrianthous, managing director of Phoenix Real Estate said at this year’s CEDER conference. “Many analysts believe e-commerce will make up half of total sales over the next two decades,” Myrianthous said.
Romania’s industrial stock stands at 3 million sqm, according to CBRE, 15 percent of which are new developments. The vacancy rate is 5 percent in the western part of the country and below 4 percent in the rest, putting pressure on rents. “In recent years, the automotive sector has been very active, followed by manufacturing,” said Razvan Iorgu, managing director of CBRE at the CEDER conference. “We have intermediated for Bosch to sell 40 ha near Deva to build a factory. Also, two other producers are analyzing the Romanian market at the moment.” He added that retail will be the driving new developments this year.
