Contracted Logistics Space Reaches 1.9-Million-m2 in the Year to September

21 October 2019 – The Spanish logistics sector allocated 1.19 million square meters in the year to September, a decrease of 14% compared to the year before. At the same time, however, investments increased by 16% to €1.302 billion, according to data from CBRE.

The allocation of logistics centre in downtown areas reached 432,000 square meters during the same period, a fall of 31% y-o-y. The market, however, reacted calmly to the decrease, as other transactions are expected to be finalised this year, according to the consultancy. Contracted space is expected to reach 600,000 square meters this year.

Rental costs continue to lead the market in Madrid and Catalonia, at 5.5 euros and 7 euros/m2/month, respectively.

Original Story: La Vanguardia / Europa Press

Adaptation/Translation: Richard D. K. Turner

BNP Paribas: Valencia’s Logistics Stock Set to Rise by 100,000 m2

12 February 2019 – Valencia Plaza

The logistics capacity in the province of Valencia is going to increase by 99,457 m2 this year with the launch of five new platforms located in Riba-roja, Torrent, Paterna and Loriguilla, according to the latest report from BNP Paribas Real Estate.

Moreover, there are locations that will offer the possibility of “turnkey” constructions with a total constructed surface area of more than 200,000 m2.

The purchase price of logistics space has risen to €200/m2-€220/m2 in the most sought-after locations due to the interest in the purchase of land from property developers and investment funds, in an area where available logistics space currently accounts for just 2.8% of the total, and 77% of that surface area is located in Riba-roja.

Due to the lack of availability, maximum rental prices have increased slightly to reach €4.5/m2/month in Riba-roja.

In 2018, demand for logistics space remained high and 24 operations were signed, three more than during the previous year. The most sought-after area was Riba-roja, which accounted for 30% of the space leased.

Nevertheless, last year closed with 127,502 m2 of logistics space leased, a very similar figure to the average for the last four years although somewhat lower than in 2017 (by 30,000 m2).

The fourth quarter of 2018 saw high leasing activity and accounted for 43% of all of the surface area leased during the year.

Original story: Valencia Plaza 

Translation: Carmel Drake