CTPark Bucharest West currently has 100,000 sqm of new space under construction. The company has big plans to extend the park, having recently purchased more land to allow for a total built-up of more than 700,000 sqm, potentially making CTPark Bucharest West the largest industrial park in Central Europe. The total investment for CTPark Bucharest West alone will exceed €150 million by Q1 of 2018.

The construction works on the new business park in Craiova are ongoing and the first 10,000 sqm of industrial space will be delivered by the end of the year, Romanian real estate developer Zacaria announced. Southern Industrial Park will comprise 43,000 sqm of Class A industrial space, fully equipped for activities such as storage, logistics, cross-docking or manufacturing.

CTP will invest €15 million in developing a new logistics park near Cluj-Napoca, Romania. CTPark Cluj II will be located in Floresti, Cluj County and will have a total leasable area of 29,000 sqm.

Tenant demand for modern logistics and manufacturing space in Poland is growing at a rapid pace. In H1 2017, warehouse supply totalled 707,000 sqm while take-up hit a record high of 1,786,000 sqm, as revealed in Cushman & Wakefield’s latest report.

After completion of the second part of the construction in Panattoni Park Cheb, Tchibo has opened an expanded distribution centre for its e-shop. The rentable space increased from 39,000 sqm to 73,000 sqm. This means that in Cheb has grown the second largest logistics hall in the Czech Republic and Tchibo’s largest distribution centre in Central and Eastern Europe. Operations of the first part of the building were commenced on 2 December last year and the site these days just dispatched its millionth parcel.

P3 is constructing a new 61,000 sqm building at P3 Piotrków park in Central Poland. Its main tenant will be Kuehne + Nagel, which will occupy 56,000 sqm of space. The facility is scheduled for completion in January 2018.

Panattoni Europe has embarked on the project to build the central warehouse for the building and home design retail chain, OBI. The BTS facility with close to 50,700 sqm will be delivered near Łódź, in the Nowosolna commune. Its development has been divided into two stages – with the first one scheduled for completion in November 2017.

The industrial real estate market in Hungary hit the vacancy rate of 5.5% in the first half of 2017, which is the lowest number on record since it has been measured by the Budapest Research Forum (BRF). In total, less than 73,000 sqm space is currently vacant in the Budapest metropolitan area of the 1.95 million sqm total modern logistics area, and only four Class A buildings can offer more than 5,000 sqm contiguous warehouse space. The lack of available space is due to the strong absorption of the last few years, and at the same time there are still limited number of speculative projects in progress or have building permits, says Tamás Beck, Director of Industrial Agency at Colliers International Hungary.

In the first half of 2017 the warehouse market was unquestionably the fastest growing commercial property sector in Poland. The highest volume of industrial and warehouse space was delivered to the market around Poznań, i.e. 133,000 sqm, while the largest scheme of 161,000 sqm is currently under construction in Szczecin. The record numbers in respect of the schemes delivered to the market are not discouraging developers from commencing new projects.

Prologis has secured a 146,500 square metre lease with Tesco Stores Slovakia at Prologis Park Galanta-Gáň. The transaction includes 55,000 square metre new lease of a recently completed build-to-suit facility and a 91,500 square metre lease renewal.