Aguirre Newman: Inv’t In Logistics Sector Amounted To €230M In Q1

10 May 2017 – Aguirre Newman

According to the Q1 Logistics Market Monitor Report for Madrid and Barcelona compiled by Aguirre Newman, the volume of investment in the logistics market amounted to €230 million during the first quarter of 2017, compared with €135 million in the same period in 2016, which represents an increase of 70.4%.

The leasing of logistics space in Madrid and Barcelona amounted to 251,866 m2, involving 29 operations, with a maximum rent of €6/m2/month during the quarter.


In Madrid, demand for logistics space exceeded 127,703 m2, which meant that the amount contracted in Q1 2017 represented 31.5% of the total amount leased in 2016.

The higher volume of activity was also reflected in the number of operations, which was 56% higher than in Q1 2016 (9 operations vs. 16). Of the 16 operations closed in Q1 2017, three accounted for 57% of the total space leased, with a surface area of more than 10,000 m2 each.

With respect to rental income, the maximum rent was €6/m2/month, in an operation in the CTM in Madrid. Besides that one-off operation, rents in the prime area remained in the region of €5/m2/month to €5.5/m2/month.

According to the report from Aguirre Newman, regarding the investment market, there is still a considerable amount of interest in the logistics market, with operations closed in the main logistics markets (Madrid and Cataluña) as well as in other secondary markets, such as Pamplona, during the quarter. In terms of yields, they amount to just under 6% for certain prime assets.


Meanwhile, in Barcelona, the leasing of logistics space during the first quarter exceeded 124,163 m2, which represented an increase of 40% compared to the same period in 2016. The number of operations closed during the period rose to 13, of which three stood out for involving spaces larger than 10,000 m2 and for together accounting for 68% of the total space leased.

Aguirre Newman’s report highlights that the logistics investment market in Barcelona and its area of influence is still very attractive for investors.

Original story: Aguirre Newman

Translation: Carmel Drake