Money Buzz! Europa

Tag: logistic market romania

  • Romania: Total volume invested in real estate assets reached €914 million in 2020

    Romania: Total volume invested in real estate assets reached €914 million in 2020

    In 2020, the total volume invested in real estate assets in Romania reached €914 million, a 28% increase compared 2019, according to Cushman & Wakefield Echinox.

    The most active segment was by far the Office sector, with estimated transaction values of approximately €784 million, representing 86% of the total investment value.

    The Industrial segment attracted 9% of the capital, while the remaining 5% were split between the Retail and Hospitality sectors.

    In total, a number of 24 income-producing properties were transacted in 2020, an average of €38 million per property, one of the highest such values in the last decade on the local real estate market.

    Biggest transactions of 2020

    The six largest transactions pertained to office projects, including the disposal of NEPI Rockcastle’s office portfolio to AFI Europe. The transaction consisted of four office buildings in Bucharest and Timisoara totaling 118,000 sq. m GLA, which were sold for €307 million, the largest office deal ever signed in Romania.

    Moreover, the €100 million threshold was exceeded by a number of other office transactions, the most relevant for the market being the purchase of Floreasca Park, a landmark 38,000 sq. m GLA office project, by a joint venture between Zeus Capital Management and Resolution Property (Fosun), marking the entry of Chinese investors on the Romanian office market.

  • Romanian logistics market had its best period during the pandemic

    Romanian logistics market had its best period during the pandemic

    The Romanian logistics market will have a record demand by the end of 2020, with a transactional volume exceeding the 700,000 square meters threshold, according to Cushman & Wakefield Echinox.

    In the first nine months of the year, the transactional volume reached 581,000 square meters, up to 94% compared to the same period of last year.

    Bucharest attracted 65% of the demand, and Timișoara almost 13%, the two markets being the largest and most active industrial and logistic poles in Romania.

    In this context, the developers were also active, delivering new spaces with an area of ​​356,000 square meters between January and September 2020, a 27% increase compared to the same period of 2019.

    Approximately 75% of the new spaces were delivered around the Capital, where the traditional pole develops at the Bucharest – Pitești highway entrance, as well as in the North-West and North areas, near the Bucharest – Ploiești highway.

    Thus, while IKEA, through Maersk and IB Cargo logistics operators, has chosen to develop a regional distribution center with an area of ​​75,000 square meters within the CTPark Bucharest West project located at kilometer 23 of A1, the Polish fashion retailer LPP decided to double the area of ​​the distribution center within WDP Park Ștefănești, in the northern part of the Capital, with an additional 22,000 square meters leased space.

    The stock of logistics and industrial spaces in Romania reaches about 4.3 million square meters, half of these spaces being located around Bucharest.

    The prime headline rents remained stable this year, between 3.75 – 4 euro / sqm / month. The largest players are CTP and WDP, which have a total market share of approximately 50%.