Catalonia closes 2021 with more than 800,000 sqm hired in logistics

Catalonia closes 2021 with more than 800,000 sqm hired in logistics

The consulting firm's figures for the Catalan region show a logistics area stock of 8.7 million square meters, with an average availability of less than 2.8%.

This year 328,000 new sqm have been added. 90% is already rented and practically half of the more than 700,000 sqm that will be provided by the projects to be delivered in 2022 have also been pre-rented.

"Rents are experiencing a clear upward trend and this is expected to continue in the coming months, given the mismatch between supply and demand, which also affects the second and third crowns, the higher price of land and the increase of construction costs ", highlights Gloria Valverde, director of industrial-logistics at Savills Aguirre Newman in Barcelona.

The consultancy also highlights that the lack of structural space in Catalonia obliges operators to work on the regeneration of logistics surface, readapting and reconditioning buildings, tasks in which ESG criteria and sustainability certifications are increasingly important, such as the BREAM and LEED seals.

On the other hand, Savills highlights that its strategic location and good connections by land, sea and air mean that Catalonia has "options to position itself as the logistics hub of southern Europe". In this sense, Barcelona is seen as "one of the top 3 markets in which to invest in logistics at a European level", but the Girona area also stands out as an important entry logistics center to the south of France.

The pandemic and ecommerce, drivers of the segment

According to experts, the situation caused by the pandemic has contributed to highlighting the key role played by the logistics sector in the economy. On the one hand, mobility restrictions have considerably increased the business of online commerce and, with it, the need to have logistical assets and agile infrastructures to provide service to society. On the other, companies have seen the need to increase their inventories and even bet on relocations to shorten supply chains and avoid their disruptions. This, in turn, "has done and will increase the demand for logistics area and their income," they conclude.

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