17 November 2016 – Mis Naves
According to the Q3 Logistics Market Monitor Report for Madrid and Barcelona 2016, published by Aguirre Newman, more than 621,000 m2 of logistics space was leased during the first three quarters of 2016, whilst investment volumes reached €465 million, slightly higher than during the same period in 2015 (€450 million),
Specifically, demand for logistics space in Madrid amounted to 33,382 m2 during Q3 2016, taking the total space leased during 2016 to 212,287 m2. This represents a 7.1% increase with respect to the same period last year. Aguirre Newman expects that this increase will rise further still during the last quarter of the year, in line with the market’s behaviour in previous years.
The most significant operation in terms of the volume of space leased during Q3 was seen in Torrejón de Ardoz, where a 11,551 m2 space was leased, which accounted for 34.5% of the total.
In terms of rents, the maximum recorded was €7.0/m2/month, as a result of an operation closed in a very specific location, namely at the Adolfo Suárez Madrid Barajas airport. Apart from that one-off operation, rents in the prime area of the capital remained stable, at around €4.5/m2/month to €5.0/m2/month.
Meanwhile, leasing of logistics space in Barcelona during the third quarter continued its positive trend, reaching 159,492 m2, which represented an increase of 27.2% compared with the same period in 2015.
In total, 408,962 m2 of space was leased during the first nine months of 2016 in 18 operations in Barcelona (…). Aguirre Newman highlighted that six of the operations involved volumes of more than 10,000 m2, which accounted for more than 61% of all space leased.
The cumulative total of space leased was concentrated in the regions of Baix Penedés, with 62,498 m2, and Alt Penedés, with 37,178 m2.
The most significant operations by surface area leased during Q3 were carried out in the region of Baix de Llobregat, specifically, in Castellbisball, with the rental of a 28,000 m2 space, and in Sant Boi de Llobregat (20,500 m2).
Original story: Mis Naves
Translation: Carmel Drake
The post Aguirre Newman: Inv’t In Logistics Assets Exceeded €465M In YTD Sept16 appeared first on Aura Real Estate Experts.
Source:: AURA Real Estate Experts