Bucharest took the 36th spot in the Cushman & Wakefield’s list of most expensive prime industrial locations in the world by rents, up ten places from last year.
“Occupancy costs for industrial spaces will generally remain at last year’s level. The vacancy rates stands currently at 10-12%, compared to 4% in 2008”, said Gabriel Sfetcu (photo), Head of Industrial at Cushman & Wakefield Romania.
For 2010, the real estate consultant expects a minor increase in industrial space demand, led by small spaces of 1,000sqm – 2,500 sqm.
“We expect to see a slim increase this year of 10% at the most from 2009”, Sfetcu pointed out.
Industrial rents in the logistic segment stands below the level recorded in Sofia where the annual rent is €61.11/sqm but above Budapest where a company pays €49.80/sqm/annum.
World’s most expensive industrial locations as listed by the real estate consultant are: London (€200.28/sqm/annum), Tokyo (€151.73/sqm/annum) and Hong Kong (€145.89/sqm/annum).
Cushman & Wakefield Romania is one of the largest real estate advisers in the country, with revenues of €5.4 million in 2008. The company said recently it completed the leasing of a 1,700sqm industrial space in Monsena Distribution Center.
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