2025-02-13-莱坊-Spain_Logistics_Snapshot_Q4_2024_2页_635kb

Logistics Snapshot Summary - Q4 2024

Core Content Overview

This document provides a snapshot of the logistics market in Spain for the fourth quarter of 2024, highlighting key trends in both the occupier and investment markets across major cities such as Madrid and Barcelona, as well as other regions like the Valencian Community.

Occupier Market Highlights

Madrid

• Take-up Volume: Madrid exceeded one million square metres in 2024, with a total logistics take-up volume of 1.1 million sq m, marking a 10% increase compared to the average of the previous five years.
• Quality of Spaces: 85% of the total leasing area in Madrid was in high or very high-quality warehouses.
• Rental Trends: Rents have continued their upward trend, driven by the introduction of new high-quality spaces and rising construction costs.
• Prime Rent: Prime rent in Madrid reached €6.75 per square meter in Q4 2024.
• Availability Rate: The availability rate closed the year at 9.3%, with expectations of further decline in 2025 due to strong demand.

Barcelona

• Take-up Volume: The Barcelona market exceeded 700,000 sq m in 2024, also showing a 10% increase compared to the average of the previous five years.
• Prime Rent: Prime rent in Barcelona increased slightly to €10.50 per square meter and continues its upward trajectory.
• Availability Rate: The availability rate in Barcelona decreased to 4.9%.

Investment Market Overview

• Total Investment Volume: In 2024, logistics investment in Spain totaled €1.83 billion, with €875 million recorded in Q4, representing 48% of the annual total.
• Regional Breakdown:
  • Madrid: Accounted for 38% of the total investment, with 28% concentrated in Q4.
  • Barcelona: Represented slightly more than 20% of the total investment.
  • Valencian Community: Gained significant attention, with nearly 20% of the total transactions.
• Notable Transactions:
  • €150 million deal in Líça d'Amunt, Barcelona (Brookfield acquired Tritax, including Mango's distribution center).
  • €100 million transaction in Moncada, Valencia (Barings purchased a turnkey project from Bertolín Group).
  • €38.5 million sale in Getafe, Madrid (Fidelity acquired a platform, intermediated by Knight Frank).

Average Prime Rents by Rings

Prime Yields in Europe (Q4 2024)

• Praga: 5.00%
• Milan: 5.50%
• Paris: 4.75%
• Dublin: 5.00%
• Warsaw: 6.75% (Q3 2024 data)

Key Contacts

• James Cowper-Coles
  Head of Logistics
  +34 600 919 105
  james.cowper-coles@es.knightfrank.com

• Adrián Romero-Amich
  Director Logistics Leasing and Development
  +34 600 919 125
  adrian.romero-amich@es.knightfrank.com

• Daniel Caprarin
  Head of Research, Marketing & PR
  +34 600 919 087
  daniel.caprarin@es.knightfrank.com