2023-02-08-莱坊-Spain_Logistics_Snapshot_Q4_2022_2页_746kb

报告摘要

Logistics Market Summary - Q4 2022

Core Content Overview

This report provides an overview of the logistics market in Spain, focusing on the Madrid and Barcelona markets during the fourth quarter of 2022, as well as the broader investment and leasing trends.

Market Take-Up

Madrid

Q4 2022 Take-Up: 400,000 sq m
Annual Take-Up (2020-2022): 1.2 million sq m
Comparison to Average: 15% higher than the average for the last five years
E-Commerce Representation: 10.4% of total sales in 2022, up 8.4 percentage points from 2012

Barcelona

Q4 2022 Take-Up: 280,000 sq m (record-breaking)
Annual Take-Up (2020-2022): 840,000 sq m
Comparison to 2021: 5% increase
E-Commerce Representation: 10.4% of total sales in 2022, same as Madrid, but still below the European average of 15.4%

Top 3 Deals in Q4 2022

Madrid

Deal: DIA Getafe
Vendor: Mutualidad de la Abogacía
Purchaser: Palm Capital
Value: €29M
Price per sq m: €970

Barcelona

Deal 1: Nuveen-Scannell Constanti
- Vendor: Scannell Properties
- Purchaser: Nuveen
- Value: €38M
- Price per sq m: €950
- Details: A turnkey logistics platform covering 40,000 sq m (37,500 sq m warehouse, 45 docks, and annexed buildings). Expected completion in summer 2023.
Deal 2: Clarion Valls
- Vendor: Carbonell Figueras
- Purchaser: Clarion Partners
- Value: €20M (confidential per sq m)

Investment Market in Spain

Q4 2022 Investment Volume: €230M
Annual Investment Volume (2020-2022): €2.2 billion
Madrid Investment Volume: €855M (40% of total)
Barcelona Investment Volume: €730M (30% of total)
Prime Yields (Q4 2022):
- Madrid: 4.85%
- Barcelona: 4.75%
Yield Difference: Due to low vacancy rates in Barcelona, which have led to higher rents.

European Prime Yields (Q4 2022)

City	Prime Yield (%)
London	5.00
Amsterdam*	4.40
Berlin*	4.10
Paris	4.25
Dublin	4.75

*Amsterdam and Berlin: Gross yield

Key Trends and Insights

E-Commerce Growth: E-commerce has been increasing in the logistics market in Spain, with a 10.4% share of total sales in 2022, showing a significant rise from 2012.
Market Stability: Despite the ongoing uncertainty due to the impact of the pandemic, average prime rents in both Madrid and Barcelona have remained stable.
Barcelona Outperformance: Barcelona continues to outperform Madrid in terms of prime yields and market activity.

Contact Information

Commercial: Jorge Sena, Partner, Head of Commercial
- Email: Jorge.Sena@es.knightfrank.com
- Phone: +34 600 919 004
Leasing and Development: Adrián Romero-Amich, Director
- Email: Adrian.Romero-Amich@es.knightfrank.com
- Phone: +34 600 919 125
Research: Rosa Uriol, Head of Research
- Email: RosaUriol@es.knightfrank.com
- Phone: +34 600 919 114
Capital Markets: James Cowper-Coles, Director
- Email: James.Cowper-Coles@es.knightfrank.com
- Phone: +34 600 919 105

Recent Publications

Active Capital 2022
- Image: Active Capital 2022

Report 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 resulting from the use of this document.
Reproduction of this report in whole or part is not permitted without prior written approval.
Registered office: Suero de Quiñones 34, 28002 Madrid
Tax ID (CIF): A-79122552