New leases dominate Romanian industrial deals

by   CIJ News iDesk V
2014-09-19   10:42
/uploads/posts/f67d554aa6acec9b1f6717b7e8a8eccabae2a7ad/images/arc.png


In the first half of 2014, approximately 70 percent of all leasing activity was made up of new leases, according to DTZ Echinox. Most companies that rented space this year are working in the manufacturing sector, which encourages developers to build speculatively, said Rodica Tarcavu, head of industrial at DTZ Echinox. In all, 61,000 sqm was leased in the first half of the year, while 28,000 sqm were made up of renewals and contract extensions. Bucharest deals were responsible for 34,000 sqm of all take-up square while regional leases accounted for 55,000 sqm. Currently, Bucharest’s industrial vacancy rate is 10 percent, while the vacancy rate in Romania overall is 8 percent.