Nevertheless, there are those who have a more pessimistic perspective. Around 23% of respondents assumed that investment «will decrease significantly when compared to the average of the last five years», it can be read in the release issued this Tuesday. And, on the other hand, another 23% consider that investment should remain stable. In fact, the shutdown, delay or cancellation of investment operations is a reality for 4 out of 10 respondents, stated the consultant.
Under this social confinement scenario, the increase of e-commerce might raise demand for logistic units close to the main cities, according to most of the professionals who were interviewed. But, for 23%, this increase should not change the demand for this type of assets.
In terms of yields, opinion is divided. Whereas 38% consider that the segment’s prime yields will be maintained, for 46% they will increase between 0.25% and 0.5%. On this point, most respondents believe that the new logistic owners in Spain will ponder lowering their rents and offering short and mid-term grace periods.
Alberto Larrazábal, director of Logistics and Industry at CBRE España, commented that «there was a standstill in the contracting of logistic areas and we are currently working on temporary solutions for the distribution chains which are faced with an overstock they can’t deliver to the stores».