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Logistics Leasing Fell by 38% in Q1, Whilst Investment Doubled

288,000 square metres of space was leased in the Spanish logistics sector during the 3 months to March 2020, down by 38% compared to the same period a year earlier.

Parque logístico Ontigola Toledo
Ontigola logistics park in Toledo, owned by Barings.

288,000 square metres of space was leased in the Spanish logistics sector during the 3 months to March 2020, including in the markets of Valencia, Zaragoza and Sevilla, in addition to in the country’s two main logistics hubs: the central area and Cataluña. This figure represents a 38% decrease compared to the same period in 2019, according to data from CBRE.

The central area (Madrid and its surrounding regions, such as Guadalajara and Toledo) saw 129,000 square metres of space leased – accounting for almost 45% of the total -, of which 121,000 square metre was net, “a really positive figure”. All of the space leased in the region was located within the A-2, A-3 and A-4 axes. And the total represented an increase of 75% compared to the same period in 2019.

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