Aguirre Newman: Logistics Inv’t Reached €135M In Q1 2016

11 May 2016 – Mis Naves

Investment in the logistics market during the first quarter of 2016 amounted to €135 million, compared with €180 million in the same period in 2015, according to the Q1 Monitor Report about the Logistics Market in Madrid and Barcelona published by Aguirre Newman.

The leasing of logistics space in Madrid and Barcelona reached 233,176 sqm, thanks to 21 operations, with a maximum rent of €5.5/m2/month during the quarter.


In Madrid, demand for logistics spaces exceeded 144,672 sqm, which more than doubled the space leased during the first quarter of 2015 (64,500 sqm).

The most significant operation during the quarter involved Amazon’s extension of its facilities in San Fernando de Henares (57,400 sqm) and its lease of 48,500 sqm of space in Cabanillas del Campo.

In terms of rental income, the maximum recorded during the quarter was €5.5/m2/month, in a deal at the PAL in Coslada. Besides that one-off operation, rental income in prime areas remained stable, at around €4.5-€5.0/m2/month.

One of the most significant findings from Aguirre Newman’s report relates to the market for the sale of land allocated for industrial/logistics use, a clear indicator of the return of property development activity: more than half a million sqm of land was sold during the quarter, for both end clients as well as to construct new projects at risk.


Meanwhile, the leasing of logistics spaces during the first quarter in Barcelona exceeded 89,004 m2, which represented a decrease of 56.4% with respect to the same period in 2015 and an improvement of 71.3% compared with the previous quarter.

The analysis of the number of operations signed shows a very positive trend in terms of demand, as 12 deals were completed during the first three months of the year compared with eight signed in the previous quarter.

Aguirre Newman’s report highlights that the logistics investment market in Barcelona and its area of influence is still very attractive for investors. Moreover, despite the scarcity of quality profitable products available, several operations are currently in progress, which will contribute to an improvement in investment volumes over the next few months.

Original story: Mis Naves

Translation: Carmel Drake