Warehouse take-up has continued to accelerate over the first three quarters of 2015 (+16% in a year), the best performance since 2008. With more than 2.2 million m² transacted, the logistics market may be able to match its 2011 performance by nearing the symbolic threshold of 3 million m² take-up for 2015.
Although 3.3 million m² of warehouses were available as of October 1, 2015, the supply of new grade A warehouses has hit a 10-year low, with less than 100,000 m² vacant at the beginning of October 2015. As such, all the markets of the North-South axis are contending with refreshing new supply and a lack of speculative construction. Occupiers have therefore resorted to building to meet their logistical needs.
Investment in logistics (excluding industrial premises) has totalled €760 mln since the beginning of 2015 (+8% in one year) and should at least double by the end of the year.
Source: BNP Paribas
