According to the last market study of logistics warehouses in Barcelona’s catchment area conducted by Estrada & Partners, real estate advisers, the market of logistics warehouses during the first nine months of the year is characterized by an increase in the number of transactions (despite a reduction in the existing demand), a decrease in the total contracted area and on the average contracted logistics warehouse area. Practically all the transactions performed have been signed in the First Ring. Actual leasing prices have lowered slightly as a result of increasing availability of logistics warehouses in all the rings. Estrada & Partners advises 41% of the transactions contracted in 2013.
To support this analysis, below, we present detailed and objective information on the key parameters of the market of logistics warehouses in Catalonia during the first nine months of the year:
– The main operations of the year were: 23,000 sq m leased to Docout in Sallent; 15,000 sq m leased to Transportes Azkar in Santa Perpètua de Mogoda (transaction advised by Estrada & Partners); 11,000 sq m leased In Sant Feliu de Buixalleu to Grupo Ibex and 10,000 sq m leased to Airfarm in Barcelona (Parc Logístic Zona Franca).
– The given contracting of logistics warehouses confirms an increase of 20% in the number of leasing operations (34 in total, of which 41% have been advised by Estrada & Partners) regarding the previous year, although the average area contracted has decreased from 7,460 sq m to 5,391 sq m.
– The accumulated contracting of logistics warehouses amounted to 194,089 sq m. First Ring, 135,604 sq m; Second Ring, 54,372 sq m and the Third, 4,113 sq m.
– Logistics warehousescontracting in view, 85,539 sq m (44.07%) correspond to new contracted area (net), while the remaining 108,550 sq m (55.92%) correspond to the contracting carried out by companies that have relocated, mainly in order to approach the best areas at a price that, at the moment, is more than reasonable.
– Registered logistics warehouses demand amounted to 438,650 sq m, being distributed as follows: First Ring, 374,650 sq m; Second Ring, 15,000 sq m; and 49,000 sq m in the Third Ring.
– No new speculative projects of logistics warehouses have been initiated, remaining the total area of state-of-the-art logistics warehouses to let at 2,568,600 sq m, of which 1,559,700 sq m are located in the First Ring, 473,600 sq m in the Second and 535,300 sq m in the Third Ring.
– The vacancy rate of logistics warehouses today is 24.65 %, distributed as follows: First Ring, 19.60%; Second Ring, 26.14%; Third Ring, 38.07%.
– Logistics warehouses average output rents in First Ring stood at 4.88 €/sq m/month, in the Second Ring 3.08 € and 2.20 €/sq m/month in the Third Ring.
– Of the 34 logistics warehouses leasing operations that have been made, 41% (14) have been advised by Estrada & Partners. These include 15,600 sq m leased to Transportes Azkar in Santa Perpètua de Mogoda; 4,000 sq m leased to Tourline Express in Hospitalet; 2,585 sq m to Grup Alimentari Disteco in Parets del Vallès; 3,000 sq m to IFC in L’Ametlla and 2,000 sq m leased to Westwing in Barcelona’s ZAL.
The logistics team of Estrada & Partners is at your disposal to make a personalized presentation of the logistics warehouses’ market study in Barcelona’s catchment area or to find the most attractive logistics warehouse options for your needs.
For further information, please contact us through our website estradapartners.com or arrange a meeting by phone +34 93 215 16 50.
ESTRADA & PARTNERS is a real estate consulting firm specialized and leader in logistics and industrial sectors, as well as in investment, providing services of Brokerage, Asset Management, Asset Valuation, Consultancy and Land. During 2012 and 2013, Estrada & Partners has advised transactions comprising over 185,000sq m of contracted logistics warehouses. These include the leasing of a 32,000 sq m logistics warehouse to Alindocks, 25,000 sq m leased to Michelin, 15,600 sq m to Transportes Azkar, 15,000 sq m leased to Idiada and 10,000 sq m leased to DHL. At the moment, Estrada & Partners is commercializing in exclusivity or co-exclusivity the logistics parks –comprising over 180,000 sq m- located in El Prat de Llobregat, Sant Esteve Sesrovires, Sant Fruitós de Bages, Constantí (Tarragona), Bràfim Alió, Fogars de Tordera and El Plà de Santa Maria; owned by AXA Real Estate, Goodman, Invesco, Inbisa, CBRE Global Investors and Emesa, as well as the facilities that were occupied by Piagio (formerly known as Derbi facilities) in Martorelles.