The industrial total leasing activity (TLA) during the first quarter of 2021 accounted slightly more than a quarter of a million sq m, counting 264,400 sq m with 43% more compared with the same period of the 2020, a year when the industrial market surpassed new boundaries in terms of leasing activity and modern stock expansion.
At first quarter of 2021 closing, Bucharest claimed 45% of Romania’s modern industrial stock which totalled 5.16 mln. sq m. During the first quarter of the year, approx. 61,000 sq m of new logistic space was delivered, most of it being located in regional cities.
Vacancy rate at Q1 2021 for the country’s modern industrial stock stands at 6%, while Bucharest’s vacancy rate reached at 8%, values on a downward trend compared with the last quarter of 2020.