In 2016 Cushman & Wakefield transacted over 78,000 sq m industrial space in Hungary, most of which were completed in Budapest and its vicinity. The largest deal was the landlord representation of NIPÜF Co. Ltd. (National Industrial Park Management and Development Co. Ltd.), the state-owned industrial developer that entered the market in 2016 under the brand “Inpark”. NIPÜF’s objective is to develop standard or tailor-made logistics and manufacturing buildings, following the needs of customers planning to enter or expand in Hungary.
Their lease agreement with one of the leading logistics giants, comprises more than 23,000 sq m modern logistics warehouse space that will serve its international automotive client regionally. The property is expected to be handed over in July 2017.
“We are extremely proud to have concluded one of the largest BTS industrial transactions of the year. Despite a demanding schedule and specific technical expectations from the Tenant’s side, with our coordination the project was closed rapidly. A truly bespoke facility is being constructed for the Tenant.” – added Gábor Halász-Csatári.
Cushman & Wakefield visions that there will be continuous interest from developers for well-located and dimensioned greenfield sites for new projects. All these factors add to the upheld positive market sentiment on both the landlord and tenant side and widespread anticipation of further growth of the industrial sector in Hungary in 2017.