Bulgaria

The total stock of modern industrial space in Sofia rose to 1.55 million m2 during Q1 2009 as 3 major speculative buildings added almost 18 000 m2 of modern warehouse space to the market.

Many companies continue to invest in build-to-suit facilities - Solid 55 completed the construction of their manufacturing facility in Elin Pelin. Schenker started the ground works of their new logistics terminal in Bozhurishte featuring 5,000 m2 warehouse space and construction is expected to commence in Q2 2009. Framo is constructing currently a factory for refrigerator systems with a total buildup area 5,040 m2 in Voenna Rampa, while Penny Market is expected to break ground for a 28,000-square-meter central warehouse near Elin Pelin in April.

Construction starts in Q1 totaled approximately 62 000 m2 with 78% of the space located outside the Ring Road. This is a direct consequence from the high land prices in Sofia, which pushed industrial and warehouse occupiers out of the traditional industrial zones of Iliantsi, Voenna rampa and Gara Iskar.