Barcelona’s logistic market closes 2019 first quarter with 22.5% more contracting than last year

• Over the first three months of 2019 a contracting figure of 227,860sqm was reached
• The e-commerce still holds the lead role in Catalonia, in general, and Barcelona’s area, in particular

In 2018 the Logistics Real Estate Market in Barcelona already closed with a record figure of 665,000sqm hired, a 44% more than in 2017, this result being driven to a great extent by the e-commerce sector. Now, data recently made public by real estate consultancy firm Savills Aguirre Newman in relation to 2019 first quarter validates the consolidation of this positive evolution.

In particular, the logistics market in Barcelona reached over the first three months of 2019 a contracting figure of 227,860sqm, including land hiring and buying operations. This represents an increase of 22.5% if compared to last year’s same period. According to data by the consultancy firm, the number of operations was 15.

In this sense, the e-commerce continues holding the lead role within the logistics market in Catalonia, in general, and Barcelona’s area, in particular, as the biggest operations closed here are connected to companies developing this activity. Among investors there are mainly institutions and certain private investors, who have driven the total amount of operations up to €60M.

Among the operations, a 93,000sqm project at the ZAL Port area (Logistic Activities Area) should be highlighted, and a second 46,000sqm one promoted by the transport company DSV and Goodman. In any case, the mean surface area of projects closed in Catalonia over 2019 first quarter was of 6,600sqm, the most usual logistics space demand.  By areas, three projects have been developed within the third crown and the centre, in this case, with over 114,000sqm, a figure that represents 50% of all the absorbed surface area.

Savills Aguirre Newman finally highlights that the logistics market in Catalonia will add up to more than 340,000sqm between 2019 and 2020. In particular, in 2019 the addition of 272,546sqm is foreseen, while in 2020 a minimum of 68,500sqm are already expected.

[05/20/2019]