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Industrial space business growing

Property developers' interest in industrial spaces will increase this year, on the background of business relocation or expansion, real estate specialists say.

If the over 300,000 sqm of logistics and production spaces for rent or sale by late in 2008 come to fruition in Bucharest, the main pole of the industrial real estate developments, the total modern spaces will then cover almost 900,000 sqm, three times more than in 2006, and we'll see whether the existing infrastructure can support the projects, main property investors say. Besides demand for easy access to the motorway or the belt road, investors are generally looking for storage spaces with modern facilities, and the spaces they are trading average out at 5,000 and 10,0000 sqm, reveals a CBRE Eurisko Real Estate Company survey. The area of interest for industrial spaces is located in western Bucharest, but specialists say interest in the eastern side of the city adjacent to A2 speedway (also called the Sun Motorway, linking Bucharest to the Black Sea city of Constanta) has also increased because of access to the motorway and the existence of a large number of industrial platforms in the area that favour such developments. For instance, Faur company in eastern Bucharest announced it plans to rent out or sell about 10 ha of industrial halls, reducing the factory's surface to 10 from 60 ha. Over 80 percent of the industrial spaces delivered last year are located in western Bucharest, but the area adjacent to A2 Motorway is expected to be also for rent or sale this year, CBRE official Adrian Nicolescu says. Although most industrial spaces develop in Bucharest, towns and cities such as Brasov, Timisoara, Arad, Oradea, Cluj Napoca and Constanta also have development potentials, because many industrial park projects are currently underway there. Sursa: http://www.rompress.ro

Tags: industrial spaces bucharest

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