In the first quarter of 2020, the modern industrial stock reached at 4.49 mln. sq m, as approx. 97,000 sq m were delivered throughout the country.
At the end of the first quarter of 2020, approx. 611,000 sq m are under construction and estimated to be added to the modern industrial stock up until the second quarter of 2021. From this surface, 541,000 sq m will be added to industrial modern stock by the end of 2020, 56% being hosted by the Capital city.
Q1 2020 take – up (total leasing activity excluding renewal and renegotiations) totalled 156,000 sq m and represented 91% from the total leasing activity. In addition, pre – leases claimed a share of 70% from the take – up, while new leases accounted for 48,000 sq m.
Net absorption amounted 96,000 sq m in Q1, a sum similar to the new supply, fact that impacted in a positive way the vacancy rate.
The vacancy rate for Romania modern industrial stock reached at 6.9%, slightly lower compared with the final quarter of 2019. Bucharest’s vacancy could be found as well on a downward path, being registered a rate of 8.3% for Q1 2020.