26 January 2018 – Eje Prime
The logistics sector is growing throughout Spain. Demand for high-quality logistics products with a surface area of more than 5,000 m2 is increasing significantly in Málaga and the Costa del Sol, as a result of the growth in consumption in this region of Andalucía, according to a report from the international consultancy firm Savills Aguirre Newman.
The company says that interest is continuing to grow from logistics operators looking to either position themselves in the region or improve their existing facilities, whilst the supply of high-quality logistics spaces spanning more than 5,000 m2 “is very limited”. The firm indicates that the most sought-after types of facilities are those measuring between 5,000 m2 and 15,000 m2, provided they are accompanied by land that allows logical operations with loading bays and sufficient room for vehicle manoeuvring.
Nevertheless, “this product is scarce, and that shortage is limiting the arrival of companies in the province, where there is an extensive supply of warehouses and mini-warehouses very focused on local operators, but a distinct lack of supply of large warehouses”, explains Vicente Bernabé, Head of Industrial and Logistics Markets for Andalucía at Savills Aguirre Newman.
With forecast demand of around 50,000 m2 for spaces measuring more than 5,000 m2 in Málaga and the Costa del Sol in 2018 and a limited current supply of just one asset exceeding that threshold, Bernabé indicates that 2018 will be “a key year for the sector in the region”.
Original story: Eje Prime
Translation: Carmel Drake
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Source:: AURA Real Estate Experts