E-logistics, inversed logistics, green logistics, invisible logistics, sustainable logistics, last mile logistics, fair and social logistics, etc. At the end everything is part of a whole, that is to say, of the Immologistics.
The sector considered in real estate the ugly duckling has turned in the last three years into the most demanded use for the diversification and specialization of a lot of portfolios of international investment funds, institutional investors, SOCIMIS and family offices, on local and international level.
We can observe the good pace of the sector in the uptake of the sq m. of logistics premises in Barcelona and the metropolitan area, as well as in the volume of investment transactions which have closed during the exercise of 2018 and on the last years accumulated.
The exercise of 2018 will close with take-up figures in the region of 600,000 sq m. provided by transactions for rents of new buildings at risk, rents of consolidated premises and rents or purchases of mainly turn-key projects.
The most demanded use for the diversification and specialization of a lot of portfolios of international investment funds
Regarding the volume of logistics investment, this exercise 2018 stands at levels of 1.2MM€ at national level, without taking into account corporative transactions between companies. In Barcelona the most important one was the purchase of MANGO facilities in Lliçà d’Amunt by part of the Socimi Tritax Big Box for a volume of 150MM€ and 20 years contract.
From the total of the hired area, 80% approximately corresponds to rent transactions, while 20% left corresponds to purchase transactions from users whose philosophy has been maturing towards a patrimony philosophy due to the good expectations of the sector, the economy’s situation and the international accounting regulations, among other things.
80% approximately corresponds to rent transactions
This year we have seen a clear positioning of the food sector in the last mile, identifying this one in the Logistic Activities Zone (ZAL) or P.I. Free Zone, with the execution of new projects such as Mercadona and Caprabo as well as other distribution companies like DHL or the already familiar Amazon, ensuring the immediate delivery and enhancing its online sales channel.
From the total of the hired area, 80% approximately corresponds to rent transactions, while 20% left corresponds to purchase transactions from users whose philosophy has been maturing towards a patrimony philosophy due to the good expectations of the sector, the economy’s situation and the international accounting regulations, among other things.
This year we have seen a clear positioning of the food sector in the last mile, identifying this one in the Logistic Activities Zone (ZAL) or P.I. Free Zone, with the execution of new projects such as Mercadona and Caprabo as well as other distribution companies like DHL or the already familiar Amazon, ensuring the immediate delivery and enhancing its online sales channel.
Other sectors related to fashion, instead of using premises inside the city as distribution points, have been logistically positioned in the third industrial belt, exactly in the zone L’Alt Penedès, with the contracting of huge surfaces exceeding the 20,000 sq m., as in the case of Vente Privee, Kiabi or Privalia.
Sectors like the automotive also describe the good momentum and clear strategic positioning, focusing their activity on more functional and operational logistics premises, mainly in the first industrial belt, obtaining significant savings on their consumptions and efficiency in the supply chain.
The lengthy processes of town planning procedures in Catalonia or the lack of facilities, are making XXL demand look for positioning in other markets.
There are more than 9 transactions related to a large format, but the lack of ready to build land of huge dimensions in first and second Crown of Barcelona, the pressure of the price of land, the lengthy processes of town planning procedures in Catalonia or the lack of facilities, are making XXL demand look for positioning in other markets.
The lengthy processes of town planning procedures in Catalonia or the lack of facilities, are making XXL demand look for positioning in other markets
Such a positioning is related to a strategic geopolitical frame, so public institutions, private investors and landowners now more than ever should work together to make appealing those spaces which due to their setting and location could be of logistics interest, since this will be a sustainable benefit for all.
During the year 2019 a consolidation of the sector is expected with the take-up of new buildings which are currently available. Considering the history of demand, we must highlight that although the number of large transactions has been increasing in the past year, demand in the range of 5,000 to 10,000 sq m. is assuming a more significant role in take-up. Currently there is an unsatisfied demand since the availability of premises of those dimensions is low, which makes us think of new construction projects at risk which will certainly be synonym of solution for these kind of companies.
View magazine: Vision 2019 [click here]
