Catalonia Lets Nearly 2.6 Mn SQM of Logistic Space

3/12/2014 – Mis Naves

According to the latest update on Catalan Logistics Warehouse Market by Estrada & Partners, during the first nine months of the year an area of 132.096 m² in total was contracted. Of these, 102.496 m² were subject to agreements signed on space in the inner suburb, and 29.600 m² in the third-ring.

On the other hand, 112.755 m² (38.70%) corresponded to new net area and the rest, 178.555 m2 (61.29%), to corporate relocations.

Speaking of demand for warehouses, the 71.91% of the net area was hired by companies from the logistics industry and 28.09% by consignees. The demand accumulated a space of 369.700 m², 289.700 m² within the first and 80.000 m² within the third ring. There were no new speculative projects for distribution centers, therefore rented area stagnated at 2.572.600 m².

Year-to-date, worth to mention are rental contracts signed by Aldeasa (15.000 m² in Barcelona), ID Logistics (20.000 m² in Vilarodona) and Naeko (10.000 m² in Sant Boi de Llobregat).

In the third quarter only, 34 logistic operations were sealed on 5.251,6 m² spaces on average.

Referring to prices, Estrada & Partners indicates a rise from the previous quarter all in the first-ring rents (now standing at 6 €/m²/month), the second-ring (3.42 €/m²/month) and the third-ring (2.63 €/m²/month).

Vacancy rate for the logistics warehouses (including spaces exclusively developed for subsequent rent) posts 20.89%.



Original article: Mis Naves

Translation: AURA REE