According to a report by the real estate consultancy firm CBRE, €1.683 billion was invested in the logistics sector in 2019, the second best annual result since 2003.
The most important purchases include the Magna, Columbus, Pulsar and Sesé portfolios, which together accounted for 34% of total investment. By asset, some of the highlights of the year included M&G’s acquisition of a logistics warehouse in Los Gavilanes (Getafe) and the purchase by Korea Investment Corporation and M&K of two warehouses, one in El Prat de Llobregat (Barcelona) and the other in Dos Hermanas (Sevilla).
In total, 1,490,000 m2 of logistics space was leased during 2019. In Madrid and the surrounding area, 533,000 m2 of logistics space was leased, of which 257,000 m2 corresponded to net leasing. That represented a decrease of 43% with respect to the previous year, but it was still the third best annual result since 2011.
On the other hand, Cataluña saw its leasing of logistics space decrease by 9.6% with respect to 2018, but it still achieved its third best annual result since 2013, with 593,000 m2.
Other important logistics centres included Valencia, with 265,000 m2 of space leased, and Zaragoza, with 49,000 m2. Although Málaga, Sevilla and Bilbao were very sought-after, the level of activity remained moderate.
Translation/Summary: Carmel Drake