Located in a strategic area, the logistics hub will serve as a regional distribution center for the automotive industry. With the support of the CBRE expertise team and the landlord, Yusen Logistics Romania will benefit from competitive rental rates in a growing market for the contractual period of five years.
”This lease agreement is a crucial strategic move that perfectly aligns with our dedication to delivering exceptional logistics solutions to our clients. Leveraging its extensive expertise and market knowledge, CBRE proved to be a rock-solid ally, supporting us at every step and offering the best solution in the market for our needs while securing competitive rates. The CTP park not only complements our operations flawlessly but also holds great promise for our future. The owner's commitment to refurbish the warehouse in accordance with ESG criteria will create an ideal environment for our logistics activities, setting the stage for our continued sustainability efforts. We are confident that this decision will bolster our industry position even further,", stated Cosmin Rusu, Managing Director at Yusen Logistics Romania.
The industrial and logistics industry continues to evolve, recent trends indicate a resurgence in the production and logistics segments. Logistics and automotive sectors drove the largest demand for I&L spaces. Analysing the total leasing activity through the lens of main use of leased spaces, Logistics purposes is by far the most common requested type of space with 53% of TLA, a trend registered since 2022 when the segment also placed first. This balance is expected to tilt in favor of production in the upcoming quarters. Rental transactions in the 3PLs (third-party logistics) category also recorded an increase of 35%, compared to the same period last year.
"The I&L market remains a crucial sector that is realigning with pre-pandemic trends. We anticipate higher demand for this year, especially in the production and logistics segments. Romania remains a competitive market for this sector and modern spaces that follow a sustainability policy and are BREEAM or LEED certified enjoy greater interest from investors and occupiers alike. The lease of this significant area for Yusen Logistics in CTPark Bucharest showcases the strong logistics sector in Romania and confirms Bucharest as a great location for a regional and global distribution center, serving 19 countries on three different continents”, stated Calin Badea Consultant, Industrial & Logistics at CBRE Romania.
Both new and refurbished industrial and logistics premises must not overlook key indicators for existing and potential tenants: energy efficiency, reducing carbon footprint and ESG impact which became not only an important advantage to be marketed but a necessity for many I&L occupiers.
CBRE's latest data reveal that the Romanian industrial and logistics market remained strong and had a sustained demand. The modern industrial stock in Romania peaked at 7.2 million sqm at the end of 2023, with a total of 492,000 sqm delivered last year, which represent around 7% from the actual stock. The monthly rent average soared to €4.50 per sqm, underlining a 9.76%% YoY growth. Last year, the industrial sector amassed an investment volume of €70 million. and represented 14% from the total investment volume transacted in 2023.
At the same time, nation wide the vacancy rate was 4.9% at at the end of the 2023, with a significant difference in Bucharest region where the vacancy rate is 5.5%, mildly higher than the national average, with 0.3 pps lower compared with the same period of the previous year.
Bucharest continues to hold the majority share in TLA as registered at the end of 2023, even though its percentage has decreased to 49%, compared to the 60% recorded in the previous year. However, other regions like West/North-West and East/North-East have shown growth, driven by infrastructure developments in recent years and those expected in 2024.
