The Spanish logistic sector in 2020 has been one of the most attractive sectors for investors, as a result of its resilience to Covid-19’s impact and the increasing penetration of e-commerce (further accelerated due to changes in consumer’s habits as a result of lockdown measures). Investments in the Spanish logistic sector in 2020 accounted for c.22% of total commercial real estate investment in Spain, amounting to c.€1.6 billion.

Currently, there is an investment pipeline of c.€1,900 million for the logistic sector, of which c.75% is expected to close in the short-medium term, with c.20 turnkey projects currently in development and to be delivered during this year, mainly in Madrid, Cataluña, Guadalajara and Toledo. The Spanish logistic market is also praised for its high growth potential, driven by stock obsolescence and low density.

Some of the main transactions registered in Spain during 2020 were the sale by GreenOak of the Mercury portfolio for €213 million, the acquisition by Real I.S. of 2 logistic warehouses in Madrid for €150 million and the purchase of the Pal-M40 logistics platform by Invesco for €131 million.

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