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industrial Market News: Spanish Real Estate Intelligence

Merlin to Make its Portuguese Stock Market Debut on 15 January

9 January 2020 - Europa Press

Merlin Properties, the Socimi led by Ismael Clemente (pictured below), is going to make its debut on the Lisbon stock market on Wednesday 15 January.

Merlin will thus fulfil its objective, announced in 2019, of trading its shares in Portugal (as well as on the Ibex in Madrid), given that it is a strategic market for the entity.

Specifically, the Socimi already owns 9 offices, 2 shopping centres and 1 logistics warehouse in the neighbouring country, assets which together account for 8% of its total portfolio. They span a combined surface area of 113,000 m2 and generating €44 million in annual revenues.

Original story: Europa Press 

Translation/Summary: Carmel Drake

 
Savills Aguirre Newman: Logistics Leasing in Cataluña Fell by 11% to 600,000 m2 in 2019

13 January 2020 - Cadena de Suministro

The volume of logistics space leased in Cataluña decreased by 10.7% in 2019 to 594,172 m2, compared with 665,952 m2 in the previous year, according to data compiled by Savills Aguirre Newman.

In total, 60 operations were closed, with notable transactions closed by Decathlon in ZAL, Districenter in Llisá de Munt and DSV in Molins de Rei.

The YoY decrease was driven by fewer large operations (those over 20,000 m2) in 2019, which broke records in 2018 and a mismatch between supply and demand in terms of surface area and location.

Nevertheless, turnkey operations continued to rise, which typically involve longer rental periods and high rental prices.

The outlook for 2020 is optimistic.

Original story: Cadena de Suministro

Translation/Summary: Carmel Drake

 
BNP Paribas: Investment in Logistics Assets Amounted to €1.85bn in 2019

9 January 2020 - Cadena de Suministro

According to data compiled by BNP Paribas, investment in the Spanish logistics sector amounted to €1.85 billion in 2019, which represented a new record, for the fifth consecutive year, and an increase of 42% YoY. The rise was driven by the boom in e-commerce and the attractive returns in the segment.

During Q4 2019, investment in the sector amounted to €545 million with prime yields falling to 4.90%. Notable transactions during the quarter included the sale by GreenOak to Patrizia of the largest logistics portfolio in Europe for €1.3 billion (€225 million in Spain); and the acquisition by Roebuck of the Pikolin logistics platform in Zaragoza for €78 million.

Original story: Cadena de Suministro

Translation/Summary: Carmel Drake