The fact that this amount is almost double the average take up for 2004-2014 for the second year running, is proof that the Catalan logistics market has revalorised itself as a top rate logistics hub, according to Consulta.
In addition to the surface area taken up in rented space, two other relevant transactions in logistics assets are worthy of mention, such as the sale of the logistics park developed by Mango in Lliçà de Vall, 112,000m² in area, and the development of a major Amazon warehouse in Amazon in El Prat de Llobregat, 62,000m² in area.
Take up has practically equalled that of 2015 and, if one looks at details, it can be deduced that the weak supply of logistics real estate, medium and large scale, has prevented the historic record of 2015 from being beaten for the second year running. The percentage of take up over 10,000m² was 27% in 2016 compared to 42% the previous year.
As regards the location of the take up, this is primarily concentrated in the first ‘crown’ (= ring) (up to 30 km from the centre of Barcelona), reaching a total of 350.000m² rented space, which is a record figure.
From all of the above, there are two direct consequences. Firstly, indexes of availability have descended to historic lows, 2.42% and 81,800m² in Cataluña and secondly this has led to an upturn in rents to 78 €/m²/year in the prime zone and 54 €/m²/year in the Metropolitan area.
Without doubt, this is a scenario where supply in the short term is going to be insufficient to satisfy demand which is maintaining the same pace as in 2016. However the immediate future contains key in hand developments, as well as risk developments which began last year and it is most likely that these will be successfully leased out during the execution phase of each project.