• Industrial and logistics real estate becomes the next sectors for the Romanian proptech startup Bright Spaces to expand vertical-wise
• Bright Spaces tailored a new, unique digital twins solution considering the sector’s specific needs
• The expansion is realized through partnership with ELI Parks, one of Romania’s leaders in the sector
• This is meant to herald further digital transformation of the industrial and logistics real estate sector across Europe

This January, Bright Spaces, the well-known Romanian provider of real estate 3D visualization solutions, announced a partnership with ELI Parks – one of the major players in Romania’s logistics and industrial market. The partnership covers the entirety of ELI Parks’ industrial parks and signifies Bright Spaces’ first venture into this real estate sector.

Bright Spaces in Recap

Founded in 2019, Bucharest-based Bright Spaces has grown into an established go-to platform for 3D visualization of real estate. Bright Spaces’ digital twins of commercial real estate proved particularly beneficial during the COVID pandemic as landlords could conduct virtual tours for potential tenants without health risks.

The company also expanded geographically – with subsidiary offices in London and Dubai and partnerships in even more countries. Vertical-wise, Bright Spaces began with commercial real estate, later expanding to the residential sector. Now, the time has come for the company to venture into the industrial and logistics sector, as postulated in Bright Spaces’ goals of the startup’s recent SeedBlink campaign.

Industrial Specifics

‘The industrial/logistics sector typically involves larger and more complex spaces compared to residential or commercial properties, requiring specialized tools for accurate representation and efficient leasing processes. Bright Spaces’ platform addresses these complexities by offering a user-friendly interface and customizable solutions tailored to the unique requirements of industrial and logistics clients, thereby enhancing the leasing and marketing processes in this sector,’ Bright Spaces’ CEO Bogdan Nicoară (who, by the way, was a guest on one of ITKeyMedia’s podcasts) explains.

Additionally, the industrial/logistics sector often emphasizes the functionality and technical specifications of the spaces, such as warehouse layout, loading docks, and floor capacity. Bright Spaces’ new product caters to these specific needs by providing detailed 3D visualizations that highlight not only the spatial layout but also technical and sustainability specifications, location and accessibility features crucial for industrial and logistics operations.

Bright Spaces’ Role in the Industrial Real Estate Sector

According to ELI Parks’ leasing and marketing manager Oana Stupinean, the company strengthens its commitment to innovation by adopting the Bright Spaces platform for its portfolio.

‘Through digitalisation and innovation, ELI Parks continues to define the future of logistics in Romania and offer our customers a complex digital experience,’ Ms Stupinian adds.

The company’s managing director Andrei Jerca tells ITKeyMedia that ELI Parks’ decision to partner with Bright Spaces came after a meticulous evaluation to identify a digital transformation solution provider that would align with ELI Parks’ innovative goals. Understandably, Bright Spaces stood out due to their extensive experience and expertise in developing custom-tailored digital solutions for the real estate sector.

‘Their highly customizable and user-friendly platform perfectly aligns with our goal of providing an immersive and engaging experience for our clients. Bright Spaces’ technology allows us to showcase our industrial spaces in detail, providing viewers with a comprehensive understanding of our facilities and industrial hubs. Bright Spaces likely demonstrated a track record of successful implementations and offered tailored solutions that aligned with ELI Parks’ vision for digital transformation,’ Mr Jerca states.

Bright Spaces’ 3D platform can significantly increase ELI Parks’ efficiency particularly in the early stages of the leasing processes by optimizing operations the same way as commercial and residential real estate players across Europe already enjoy. Potentially interested clients can explore the industrial spaces remotely at any time, from anywhere in the world, saving lots of time.

This way, ELI Parks can reach a larger audience without being limited by geographical constraints. Aligning with emerging trends, Mr Jerca admits that his team is thrilled to be at the forefront of this digital transformation, setting a new standard for industrial real estate.

For Bright Spaces, the ELI Parks partnership marks a significant milestone in the Romanian industrial real estate market. Through this collaboration, Bright Spaces gets an opportunity to demonstrate its expertise in providing 3D visualization solutions tailored to the unique needs of the industrial sector. By assisting ELI Parks in fully digitalizing its industrial portfolio of 300,000 sqm across five Romanian cities, Bright Spaces showcases its commitment to enhancing leasing processes and delivering immersive experiences for prospective clients.

Mr Nicoară shares that his team already observes keen interest from other industrial companies, indicating the broader appeal and potential impact of Bright Spaces’ offerings. Given Bright Spaces’ innovative approach and the success witnessed with ELI Parks already, other industrial estate developers and landlords in Romania are anticipated to be willing to explore similar digital transformation initiatives using Bright Spaces’ 3D tools.

What the Partnership Means for the Future

‘The proven benefits of increased efficiency, expanded reach, and improved client experience exemplified by Bright Spaces’ partnership with ELI Parks serve as compelling reasons for industry peers to consider adopting these cutting-edge solutions,’ Mr Nicoară believes.

‘ELI Parks’ partnership with Bright Spaces marks a significant milestone not only in the Romanian market but also in the broader European real estate landscape, as we proudly stand as the first to fully digitalize our entire industrial portfolio,’ Mr Jerca agrees.

Initiatives like ELI Parks’ groundbreaking partnership with Bright Spaces exemplify the region’s commitment to embracing cutting-edge technologies and driving innovation. As virtual tours and other digital tools become increasingly integrated into the real estate ecosystem, continued investment in technology, coupled with a forward-thinking approach from industry leaders, will further propel the region toward alignment with global digital transformation trends in real estate.