5 June 2015 – ABC
The industrial and logistics sector recorded an investment volume of €205 million during the 5 months to June, i.e. double the amount recorded during the same period last year, as a result of eight transactions, according to data from the real estate consultancy, CBRE.
One of the most important transactions was Rockspring’s purchase of two logistics warehouses under construction in Torrejón de Ardoz from Montepino, with a surface area of 49,000 m2, which will be completed during the first quarter of 2016.
The increase in purchase activity has resulted in a rapid compression of prime rents, which now stand at around 7%, down from 8.50%-8.75% in 2013.
Last year, the hiring of logistics space in Madrid reached almost 400,000 m2, the highest figure seen in the last 4 years; whilst in Barcelona, more than 200,000 m2 was hired during the first quarter of 2015, showing a strong performance even during the worst years of the recent crisis.
In this sense, CBRE believes that rentals in Barcelona during the first half of 2015 may equal the figure recorded for the whole of last year.
The Corredor del Henares continues to be the favourite area for logistics companies in Madrid; whilst in Barcelona, demand is still primarily distributed between the “segunda corona” or ‘suburbs’ (Vallés Oriental y Occidental) and the “tercera corona” or ‘greater metropolitan area’ (the provinces of Gerona and Tarragona).
CBRE expects the buy-side pressure to continue, with the entry of a greater number of players, all in an environment characterised by greater ease of access to financing.
Original story: ABC
Translation: Carmel Drake