In 2020, the logistics sector has shown great resilience displaying an excellent performance in Spain. Particularly, in Madrid, circa 55 relevant lease contracts have been registered during 2020, with the Q4 as the most active quarter with c.20 lease contracts signed and a take-up of c.270,000 sq.m. (+c.155% vs Q4 2019), bringing the total absorption during 2020 to c.930,000 sq.m. (+c.65% vs 2019).

The average logistic rent in Madrid experienced a slight increase reaching €4.7/sq.m./month (+c.5% vs 2019), while prime rents have remained stable at c.€6.3/sq.m./month.

At the end of 2020, the availability rate in Madrid’s logistic sector stood at c.7% for a stock of c.10.6 million sq.m., with the stock growing by c.1 million sq.m. during 2020, fuelled by the inauguration of several new projects in San Fernando de Henares and Villaverde.

The situation in 2021 is expected to remain very dynamic, with an additional c.800,000 sq.m. due to be incorporated to the market’s stock throughout the year (mainly developments of new state-of-the-art logistic platforms).

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