Below, we provide detailed information on key market parameters in logistics warehouses market in Catalonia during 2012:
– Registered logistics warehouses demand amounted to 865,300 sq m, being distributed as follows: First Ring, 478,300 sq m; Second Ring, 92,000 sq m; and 295,000 sq m in the Third Ring.
– The accumulated contracting of logistics warehouses amounted to 370,265 sq m. First Ring, 233,025 sq m; Second Ring, 29,000 m2, while in the Third Ring it was contracted 108,240 sq m.
– Logistics warehouses contracting in view, a minimum of 168,567 sq m (45.52%) correspond to new contracted surface (net), while the remaining 201,698 sq m (54.47%) correspond to the contracting carried out by companies who have relocated.
– No new logistics warehouses speculative projects have been initiated, bringing that the total area of state-of-the-art logistics warehouses for rent remains 2,524,400 sq m, of which 1,512,500 sq m are located in the First Ring, 472,600 sq m in the Second and 539,300 sq m in the Third.
– The vacancy rate of logistics warehouses today is 20.16%, distributed as follows: First Ring, 13.32%; Second Ring, 27.51%; Third Ring, 32.91%.
– Logistics warehouses average output rents in the First Ring stood at 5.00 € /sq m / month, in the Second Ring 3.08 € and 2.20 € /sq m / month in the Third.
– The main operations of the year were: the leasing of a 32,000 sq m logistics warehouse in Valls Logistics Park to a company in the logistics sector; two operations of 25,000 sq m leased to MICHELIN and BAXIROCA in Subirats and La Pobla de Claramunt respectively; the leasing of 20,000 sq m to PEGUFORM in Castellbisbaland the leasing of 15,000 sq m and 10,000 sq m of warehouses in La Bisbal del Penedès. Most of these operations have been made thanks to the services provided by the real estate advisers Estrada & Partners, a company specialised in logistics real estate who, during 2012, advised ten operations in the logistics sector in Catalonia, comprising a total of 120,000 sq m of logistics warehouses.
“In 2012, despite the existing widespread crisis, the logistics real estate market has experienced a positive trend considering that the contracting in Catalonia has reached 370,000 sq m, of which 45% (170,000 sq m) are net contracting. At the same time, it is gratifying to us to report the 32% of the contracted surface (120,000 sq m) belongs to operations advised by Estrada & Partners, among which we highlight 32,000 sq m leased to Alindocks, 25,000 sq m leased to Michelin, 15,000 sq m leased to Idiada and 10,000 sq m leased to DHL. To conclude, I’ll mention that most of the large surface operations were performed in the second and, specially, in the third ring, area in which the vacancy rate has decreased significantly. Hopefully, this trend of improvement will remain during 2013, the stock of available warehouses will keep reducing and, therefore, the values will begin to recover”, says Victor Estrada, Estrada & Partners Manager.
The logistics team of ESTRADA & PARTNERS is at your disposal to make a personalized presentation of the logistics warehouses’ market study in Catalonia, so that your company has all the information about the park of logistics warehouses and could be able to consider the option of lowering the cost of your logistics warehouses through the contracting of a new logistics warehouse, modern and better conditioned.
Estrada & Partners is a real estate consulting firm specialised and leader in logistics and industrial sectors, where it provides services of Brokerage, Asset Management, Asset Valuation, Consultancy and Land. At the moment, it is commercializing in exclusivity or co-exclusivity the logistics parks located in El Prat de Llobregat, Sant Esteve Sesrovires, Sant Fruitós de Bages y Constantí (Tarragona), owned by AXA Real Estate and Goodman.
For further information, please contact us through our website estradapartners.com or arrange a meeting by telephone +34 93 215 16 50.