Spanish logistics sector in 2019
According to a recent CBRE report during this past year 2019, the logistics sector in Spain reached a figure of 1,490,000 m2 of surface contracting, between the two main logistics areas of the country, Central Zone and Catalonia, and Valencia, Zaragoza, Seville and Bilbao.
This figure represents a decrease of 25% compared to that achieved in the previous year.
If we speak in terms of investment, in 2019 a figure close to 1,683 million euros was reached, the second best figure since 2003.
The purchase of assets from the Magna, Columbus, Pulsar and Sesé portfolios accounted for 34% of the total of the 1,683 million euros of investment made.
In the Central Zone, a total of 533,000 m² were contracted, of which 257,000 m² have been net contracting. Practically all of the contracted square meters were made on axes A-2 and A-4.
According to Alberto Larrazábal, national director of Industrial and Logistics of CBRE Spain, “the total figure has meant a decrease of 43% compared to 2018, but it is the third best recorded since 2011 and is within the levels according to the average hiring that usually registers the logistics market in the Central Zone”.
In Catalonia, the third best number of logistics contracting since 2013 was reached in 2019 with a total surface area of 593,000 m2. This figure represents a decrease of 9.6% compared to the previous year. Most of the contracting was carried out in the province of Barcelona with 550,000 m2. And 43,000 m2 in the province of Tarragona.
Valencia with 265,000 m2 is consolidated as the third most important area. Zaragoza, with 49,000 m2, is the fourth logistics center in square meters contracted in Spanish territory.
Malaga, Seville and Bilbao are still in high demand, but continue in the same line of moderate activity due to the shortage of new quality products.
If we review the prime rent, it remained, both in the Central Zone and in Catalonia, at 5.50 euros / m2 / month and 7.00 euros / m2 / month, respectively. Similar levels at the end of 2018.