The logistics market in Catalonia closed 2025 with a cumulative take-up of 609,483 sqm, representing a 15.9% adjustment compared to the volume recorded in 2024, according to the latest report by Forcadell. Despite this year-on-year decline, the analysis places the end of the year in line with initial forecasts, in a context marked by international uncertainty.
The average surface area per transaction reached 12,190 sqm for the year as a whole, a higher figure than usual due to the weight of several large-scale transactions. Most of the demand was concentrated in the second ring, both in terms of number of transactions and space contracted, driven by the availability of larger platforms and the search for locations with good logistics connections. The third ring maintained its role as an alternative for large industrial plots and replacement projects, while the first ring recorded more limited activity with smaller transactions.
Gerard Plana, director of the Industrial and Logistics department at the consultancy firm, points out that "this year-end has confirmed market performance in line with forecasts and, from our point of view, is a positive result, especially when we take into account the context of international uncertainty marked by conflicts and tariff policies".
In the last part of the year, activity showed a more pronounced correction. During the fourth quarter of 2025, logistics take-up in Catalonia stood at 175,475 sqm, 22.8% less than in the same period of the previous year. However, new construction remained significant, with 50% of the space contracted corresponding to new-build warehouses or turnkey projects, reflecting the preference for modern and efficient spaces.
Between October and December, there were 14 transactions. Eight of these were concentrated in the second ring, totalling 137,169 sqm, equivalent to 78% of the space contracted in the quarter. This was followed by the third ring, with five transactions and 35,621 sqm, representing 20% of the total, while the first ring recorded a single transaction of 2,685 sqm, the remaining 2%.
In terms of investment, interest in the Catalan logistics market remained high throughout 2025, although the volume traded was affected by the shortage of product available for sale. The report notes that some national portfolios came onto the market during the year and that the most attractive assets within these portfolios were located in Catalonia. Likewise, land transactions played a significant role, with a main focus on Barcelona's second ring.
