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Logistics offering in Catalonia to grow 20.5% by end of 2018
- In addition to the e-commerce boom, exports and consumption are up
- Vacancy rates in the logistics sector are at an all-time low
The logistics sector is thriving in Catalonia. In addition to the e-commerce boom, exports and consumption are also up. Everything points to continued levels of investment, encouraged by the economy and consumer levels, with figures that show that more and more companies see Barcelona and Catalonia as the logistics hub of southern Europe.
According to Consulta, a real estate services company specializing in industrial and logistics markets, the logistics spaces available for lease in Catalonia will grow 20.5% over the next 18 months. This will push numbers over the symbolic 4-million-m² mark, which is really 8 million if we count the logistics warehouses operated by their owners.
Today, vacancy rates in the logistics sector are at an all-time low, specifically at 1.83% in the first ring of the Barcelona metropolitan area and at 2.41% for Catalonia as a whole. As a result, the developers that have started projects have had firm lease agreements by the time they completed them. Development has gotten a push from leases for latest-generation logistics warehouses, with up to 1.1 million square meters between 2015 and 2016, driven by the need for new spaces for e-commerce companies.
Furthermore, the consultancy explains that before 2018 is over, a total of 700,000 m² of logistics warehouses will be handed over in Catalonia. Of the new developments, 95% are located within 30 km of Barcelona. Facilities with under 10,000 m² make up 30% of the total, 37% have between 10,000 m² and 25,000 m², and 33% are over 25,000 m².
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