The Spanish logistics sector registers a contracting of 994,057 square meters in the first semester

2023-08-23 10:00:10

The Spanish logistics sector registered a contracting of 994,057 square meters between January and June of this year, which implies a 30% cut compared to the record data achieved in the same period of 2022, according to data from CBRE.

These contracted square meters are distributed among Valencia, Zaragoza, Seville, Malaga, Bilbao, the central area and Catalonia.

Specifically, the downtown area reached a contracting of almost 384,000 square meters, with a year-on-year drop of 39%. Of the total, 88% of the ‘take-up’ in this region has been net and prime rent “remains stable” at 6.25 euros per square meter per month.

For its part, Catalonia reached almost 327,000 square meters contracted, which meant 17% less than in the first six months of 2022. In this region, 77% of the contracting has been net and prime rent has reached 8 .25 euros per square meter per month, 6.5% more than at the end of 2022.

From CBRE they have indicated that availability stood at “very low” levels in the second quarter of the year, since in the central area it is 6.82% and in Catalonia 2.97%.

Among the most relevant operations, the group wanted to highlight a warehouse in Ontígola (Toledo) of about 25,000 square meters for the textile sector, and a 22,000-square-meter warehouse in Tarragona.

The National Industrial & Logistics Director of CBRE SpainAlberto Larrazábal, has assured that a reactivation of logistics contracting is expected in the coming months as the high level of uncertainty dissipates and the macroeconomic and political environment becomes clearer.

Regarding investment, in this first semester a volume of more than 450 million euros was reached, which represented a decrease of 50% compared to the figure recorded in the same period of 2022.

From CBRE, it was pointed out that even despite the uncertainty, there continues to be significant investor interest in the Spanish logistics market. The estimates reflect greater investment activity for the coming months.