2022-05-18-莱坊-Spain_Logistics_Snapshot_Q1_2022_March_2022_2页_745kb

Logistics Market Summary - Q1 2022

Core Content Overview

This document provides a snapshot of the logistics market in Spain for the first quarter of 2022, highlighting key trends in take-up, investment, and prime rents in major cities such as Madrid and Barcelona. It also includes information on notable transactions and the broader European market context.

Take-Up Trends

Madrid

• Q1 2022 Take-Up: 330,000 sq m
• Year-over-Year (YoY) Comparison: A 25% decrease from Q1 2021
• Geographic Concentration:
  • A-2 Axis: 80% of total take-up
  • A-4 Axis: 20% of total take-up

Barcelona

• Q1 2022 Take-Up: 245,000 sq m
• YoY Comparison: Only 2% less than Q1 2021

E-Commerce Growth

• E-Commerce Turnover (Q3 2021): €41.8bn
• YoY Growth: 10% increase from Q3 2020
• Leading Sector: Clothing

Prime Rents

• Average Prime Rents:

  • Madrid:
    • 1st ring: 4.95 - 6.00 €/sq m/month
    • 2nd ring: 3.75 - 4.75 €/sq m/month
    • 3rd ring: 2.90 - 3.75 €/sq m/month
  • Barcelona:
    • 1st ring: 5.50 - 7.50 €/sq m/month
    • 2nd ring: 4.00 - 6.00 €/sq m/month
    • 3rd ring: 2.50 - 4.00 €/sq m/month

• Prime Yields:

  • Madrid: 3.75%
  • Barcelona: 3.75%
  • European Comparison (Q3 2021):
    • Brussels: 4.60%
    • London: 3.25%
    • Amsterdam: 3.40%
    • Frankfurt: 3.00%
    • Berlin: 3.40%
    • Paris: 3.00%
    • Dublin: 4.00%

Investment Market

• Q1 2022 Investment Volume: €790 million
• YoY Growth: 90% increase compared to Q1 2021
• Madrid:
  • Investment Volume: €430 million
  • Annual Growth: 260% increase
• Barcelona:
  • Investment Volume: 20% of total investment

Top 3 Deals

Market Context

• Geopolitical and Energy Crisis Impact: Uncertainty due to the energy crisis has affected construction prices, but the logistics sector remains in a healthy period.
• Impact of COVID-19: The pandemic has impacted market activity across Europe. The report acknowledges the uncertainty and limited data for comparison, emphasizing the need for expert insights.
• Market Outlook: The trend for logistics investment is expected to continue in 2022, driven by strong demand for this asset class.

Contact Information

• Capital Markets:

  • Alejandro Vega-Penichet: Director of Industrial & Logistics | +34 600 919 014 | alejandro.vega-penichet@es.knightfrank.com
  • James Cowper-Coles: Director of Logistics Capital Markets | +34 600 919 105 | james.cowper-coles@es.knightfrank.com
  • Luciano Antequera: Consultant of Logist Leasing | +34 600 919 013 | luciano.antequera@es.knightfrank.com

• Research:

  • Rosa Uriol: Head of Research | +34 600 919 114 | rosa.uriol@es.knightfrank.com

Recent Publications

• Retail Parks (2021)
• Active Capital (2021)

Reports Available At:

• Spanish: knightfrank.es
• English: knightfrank.com/research

Disclaimer

This report is for general information only and should not be relied upon in any way. Knight Frank España, S.A.U. does not accept any responsibility or liability for any loss or damage arising from its use. Reproduction of this report is not permitted without prior written approval.