Logistics take up increases in Barcelona and decreases in Madrid

Logistics take up increases in Barcelona and decreases in Madrid

In Barcelona Take up has not developed una uniform manner in every zone owing to the scarcity of space in the first ring around the city (‘corona 1’), where there is no available space above 10,000 m2, and the same in ‘corona’ 2. Therefore, ‘corona’ 3 has experienced the most take up this trimester, with almost 60% of the total, a total of 73.000 square metres, compared to 36,248 m2 in ‘corona’ 2 and 15.350 m2 in ‘corona’ 1. 


The lack of supply, mainly with regard to large warehouses in zones nearest to the city, has resulted in the development of ‘key in hand’ projects, like those in the second and third ‘coronas’ in Barcelona,” explains Alberto Larrazábal, National Director of Industrial and Logistics at  CBRE, adding that, “The market tendency is therefore towards these types of news developments which need new services for firms and logistics operators, adapting building specifications and properties to new business models.” Thus, CBRE believe that operators linked to e-commerce, food and distribution have completed the most significant agreements and the largest investments.  

In terms of rents, these have not registered perceptible changes in the first and third ‘coronas’ in the first trimester of this year, when the prime rents reached 6.50 €/m2/month and 2.75 €/m2/month, respectivamente. However, in the second ‘corona’, prime rents have risen to 5 €/m2/month, owing to the scarcity of quality warehousing. In relation to the available rate, CBRE have observed that this has fallen to 3.8%.


Logistics take up down by 13% in Madrid, to 130,000 square metres


In the case of Madrid, logistics take up during the first trimestre was 130,000m2, 13% less than the same period of the year before, with 150,000m2. CBRE points out that, although it is certain that there has been some contraction in the Madrid market, this has not been significant, and in general terms it has been a very positive trimester given the current expected scarcity of logistics spaces, and in future trimesters significant transactions will result in a return to positive numbers for take up in Madrid. 


As regards prime rent, this has kept stable in the local distribution area, at about 5.25 €/m2/month. 


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