Goodman to Develop 285,000 m2 of Logistics Land in Spain

16 January 2019 – Eje Prime

Goodman is boosting its business in Spain. The inmo-logistics giant is entering 2019 with a portfolio for development that spans a surface area of more than 285,000 m2. The company is going to finalise two projects spanning more than 100,000 m2 this year, after increasing its portfolio by 30% in 2018, according to reports from the company.

In the last year, the occupancy rate of Goodman’s assets in Spain was 100%, reaching a total surface area of 106,000 m2. Its most recent completed projects include a turnkey in the Zona Franca of Barcelona and a last mile logistics platform in Madrid.

Both developments had e-commerce companies as the client. Not in vain. E-commerce “consolidated its position as the great ally of the industry by demanding large, high-quality logistics spaces in strategic locations, and with easy access to the major cities”, explained Ignacio García Cuenca, Director General of Goodman in Spain.

Currently, the company is developing four logistics platforms in Cataluña, one of the regions in which it is most active. Specifically, the company is going to build 111,000 m2 in Barcelona.

Moreover, Goodman is going to finalise several projects in 2019 including a 75,000 m2 logistics platform in Alcalá de Henares and a 33,000 m2 asset in León.

In Illescas (Toledo), the new logistics hub of central Spain for the development of large logistics warehouses, the Australian giant is going to start building a facility spanning more than 66,000 m2 this year.

Goodman Group is present in Continental Europe, the United Kingdom, the Asia-Pacific region, North America and Brazil, and has a portfolio of assets under management worth €24.3 billion.

Original story: Eje Prime 

Translation: Carmel Drake

CBRE: 57% More Logistics Space Leased In Madrid During First 9 Months Of 2017

9 October 2017 – Eje Prime

Demand for logistics space in Madrid is soaring. During the first nine months of the year, 633,000 m2 of logistics space was leased, which represented an increase in demand of 57% with respect to the same period last year, according to data from CBRE. This rise in the volume leased was due not only to an increase in the number of transactions closed but also due to a rise in the number of transactions involving large surface areas.

233,000 m2 of logistics space was leased between July and September this year, of which 173,000 m2 (or 74%) related to the e-commerce sector. The most important operations carried out during the third quarter included the turnkey project in Illescas, with a surface area of 103,000 m2; the Leroy Merlin operation in Meco, spanning 59,814 m2; and the CEVA deal in Seseña, with a total surface area of 12,000 m2. In terms of the prime rent in the local distribution area, it remained at €5.25/m2/month.

In Barcelona, demand also remained very high and the lack of available spaces in the first and second ring alone, where the vacancy rate is just 0.5% and 1.6%, respectively, prevented the volume of new space leased from continuing at record levels, in line with the last two years.

In this sense, 80,000 m2 of logistics space was leased during the third quarter of 2017, down by 29% compared to the previous quarter (112,000 m2). In terms of the cumulative figure for the half year, more than 317,000 m2 of space was leased, 57% less than during the same period in 2016. The most important operation during the quarter was the rental by Naeko of a logistics warehouse with a surface area of 20,000 m2 in La Bisbal del Penedès.

In terms of prices, prime rent continued at €6,50/m2/month in the Catalan capital, although that figure is expected to rise over the next few months, due to the stark lack of available space.

Original story: Eje Prime

Translation: Carmel Drake