The Catalan industrial-logistics market has closed 2018 with the highest figures of these past years, thus confirming all the forecasts in relation to take-up. Contracting specifically for Q4 has been of 178.899 sqm while the total annual has risen to 665.845 sqm, a figure 45% higher respect the past fiscal year.
Analyzed by zones, according to the Forcadell Q4 report, the 1st Crown is the area that has registered the most transactions, with a total of 5, accounting for a take-up of 105.576 sqm. The 2nd Crown has registered 3 transactions with a total of 25.823 sqm and the 3rd Crown 3 more, with a total of 47.500 sqm.
The main Q4 transactions highlighted in Forcadell’s report have been in new construction warehouses or turnkey projects, as are the cases of Caprabo in the ZAL harbour platform (24.000 sqm), Mercadona in Ripollet (14.500 sqm), GlobalTalke in Tarragona (23.500 sqm) and LIDL also in the ZAL (61.000 sqm).
Regarding the total annual, the 2nd Crown is the top achiever, with 31 transactions and 347.766 sqm contracted, which amounts to a 52% of the total take-up volume in Catalonia. Overall, as stated in the Forcadell report, the 1st Crown represents 29% while the 3rd constitutes 19% of the rest of the take-up volume. It is worth noting most part of demand is focused in the 1st Crown and in the nearest hub close to the AP-7 highway of the 2nd Crown, where availability is almost nonexistent and the main transactions have been through turnkey projects.
Regarding the total annual, the 2nd Crown is the top achiever, with 31 transactions and 347.766 sqm contracted, which amounts to a 52% of the total take-up volume in Catalonia. Overall, as stated in the Forcadell report, the 1st Crown represents the 29% while the 3rd constitutes 19% of the rest of the take-up volume. It is worth noting most part of demand is focused in the 1st Crown and in the nearest hub close to the AP-7 highway of the 2nd Crown, where availability is almost nonexistent and the main transactions have been through turnkey projects.
According to Gerard Plana, director of the Industrial-Logistics department of Forcadell “the good performance of the industrial-logistics sector is confirmed by the contracting of warehouses as well as by the investment transactions executed throughout the FY. Most of these transactions and contracts have been led by international funds in all 3 crowns of Barcelona, although mainly in the 2nd and 3rd.
Regarding prices, Forcadell’s report points out that for Triple A warehouses in the 1st Crown, rents are consolidating at €7/sqm plus expenses. Asking rents in the 2nd Crown can reach up to €6/sqm, but in some zones finding rents over €4,5/sqm is increasingly hard. Accordingly, the 1st Crown and the best zones of the 2nd Crown are practically at a 100% occupancy and the only available stock is in the areas furthest from the 2nd Crown, mainly in construction phase.
Previous