Real estate experts assure that the city of Valencia and its metropolitan area are consolidated as a "prime destination" for logistics investment. They assure it based on the figures they manage, since the Valencian logistics market has reached a contracting of 108,000 square meters in the first quarter of 2023, and thus closes the best first quarter of contracting in recent years, exceeding the 78,100 square meters that were registered. in the same period of 2022.
Data from CBRE, a real estate services consultancy, place 448,000 square meters contracted during 2022. Overall, and according to its figures, Valencia concentrated 15% of national contracting in the first three months of the year with the logistics area made up of Picassent, Almussafes and Alcàsser, along with Ribarroja-Cheste and Sagunt as those of greatest interest.
They also point out that more than half of the contracted area in Valencia has been in the South Zone (56,000 m2), followed by the Central Zone (37,000 m2) and the North Zone (15,700 m2). Among the most important operations in the first quarter, the 25,000 m2 of Improving Logistics in Picassent stands out, which leased a total area of 25,000 m2 in the La Coma de Picassent industrial estate, a strategic logistics area of the Valencian Community.
Another notable operation for the firm was the 15,000 m2 In Side Logistics project in the Nederval Situs project in the Ribarroja logistics park.
The contracted meters increase and therefore, the lack of spaces to meet the high demand is evident, adds the consultant. Thus, the vacancy rate continues to decline, and is already at 2.4% in the first quarter of the year. For Javier Muñoz, director of Industrial
Consequently, they warn that there is a lack of new projects to cover the existing demand during 2023 and 2024, since their forecast is that 131,000 square meters will be delivered in the second half of the year. They also expect a general increase in rents, which are currently, in the case of prime areas (or more in demand) at 4.75 euros/m2/month.
