Logistics contracting in Zaragoza on the rise

Logistics contracting in Zaragoza on the rise

The logistics sector in Zaragoza is experiencing its splendor stage, so far this year 104,000 sqm have been contracted, exceeding by 92% the contracting obtained in the same period during the previous year, 2020, and with expectations of exceeding 150,000 m2 at the end of the year, which would represent a 20% increase compared to 2020, one of the best years in history.

So much so, that today there is interest in settling in the Aragonese capital of operators related to sectors such as e-commerce, transport and distribution, according to CBRE data. Taking advantage of the location of the city of Zaragoza, as well as the degree of quality of the infrastructures that it has.

Plaza, the main logistics polygon in southern Europe with almost 140 hectares, stands out above all other locations as the logistics epicenter, since it is the location where the largest number and volume of operations have been carried out in the city when compared to the rest of the polygons.

Plaza has registered a contract of 94,000 sqm. This figure shows that despite the difficult economic situation caused by the COVID-19 crisis, the logistics sector has proven to be one of the most resilient, recovering normal activity levels prior to the pandemic and even in many cases, such as the Zaragoza case, coming out strengthened.

Regarding prime rent, it remains in the A-2 Madrid area and more specifically, in Plaza, standing at 3.75 euros / sqm / month. Among the main operations carried out, it is worth highlighting two "turnkey" operations of 13,600 sqm (extension of a 22,000 sqm warehouse) and 14,000 sqm (Inditex) located in Plaza.

With regard to land operations, more than 350,000 sqm have been transacted, with three operations over 50,000 sqm, with well-founded possibilities of exceeding 700,000 sqm at the end of 2021, a figure that only Madrid and the market in the area center sheds in Spain.

In these first nine months of 2021, the logistics investment in Zaragoza has been higher than 175 million euros, with up to seven operations in three different locations, although Plaza concentrates more than 70% of the total invested.

Of note is the acquisition of a logistics platform in Malpica of more than 60,000 sqm, the DSV logistics warehouse in Plaza integrated into a portfolio of two more assets, and the third transmissions of a 67,000 sqm platform, as well as the warehouse occupied by Eroski, both in Plaza.

The prime logistics profitability in Zaragoza is at 5.15% with the prospect of compressing even more given the increase in interest in this type of product

"Zaragoza is one of the most important places in Spain and it is always in the focus of both national and international investors, developers, and logistics operators. The logistics sector is the favorite of all investors in any real estate sector when investing which gives the importance of our sector. We encourage all investors to continue investing in Zaragoza ", says Alberto Larrazábal, national industrial and logistics director of CBRE Spain.

"We are facing a historical moment, never seen before in the more than 15 years of existence of Plaza, where there are difficulties both to find plots of more than 30,000 m2 and to have the appropriate logistics product. Therefore, we encourage the main logistics promoters to develop promotions with which to continue boosting the Zaragoza logistics market, consolidating it as one of the five most important at the national level ", assures Miguel Ángel Gómez, director of CBRE Zaragoza.

"We are living an incredible moment in terms of logistics contracting in Zaragoza. The trend has been clear for four years. The arrival of more international promoters and new operators has ended up invigorating the sector. The availability of quality logistics spaces is very low and the change experienced especially in Plaza is very great ", confirms Joaquín Cheliz, senior industrial and logistics consultant Zaragoza at CBRE Spain.

"Zaragoza is, more than ever, in the crosshairs of large multinationals that want to enter Spain. The scarcity of land in Madrid and Catalonia, as well as the existence of quality products in the province, are helping this city to become a place that is increasingly in demand where we hope to see the arrival of new users and operators in the coming years ", says Beatriz Olabarría, occupant industrial director of CBRE Spain.

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