{"id":92534,"date":"2026-10-15T08:45:00","date_gmt":"2026-10-15T06:45:00","guid":{"rendered":"https:\/\/blog.urbanitae.com\/?p=92534"},"modified":"2026-10-14T09:32:49","modified_gmt":"2026-10-14T07:32:49","slug":"logistics-remains-resilient-in-2026-solid-demand-and-greater-investor-selectivity","status":"publish","type":"post","link":"https:\/\/blog.urbanitae.com\/en\/2026\/10\/15\/logistics-remains-resilient-in-2026-solid-demand-and-greater-investor-selectivity\/","title":{"rendered":"Logistics remains resilient in 2026: solid demand and greater investor selectivity"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Spanish logistics market is maintaining a high level of activity in 2026. Take-up continues to grow in the main hubs, availability remains limited in some locations and investor capital continues to show interest in the sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But the market is also changing. Demand is no longer directed equally at any warehouse or platform. Location, efficiency, power capacity, automation and asset quality are becoming increasingly important.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CG Capital Europe had already <a href=\"https:\/\/cgcapitaleurope.es\/strong-start-to-2026-for-the-spanish-logistics-market\/\">pointed to this trend in the first quarter of the year<\/a>, highlighting the strength of Madrid, Catalonia and Valencia and the support of structural factors such as the reorganisation of supply chains and demand for more efficient facilities. Subsequent data from the first half of the year confirm the dynamism, while also showing a more selective market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Take-up remains at a high pace<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">According to CBRE, <a href=\"https:\/\/www.cbre.es\/en-gb\/insights\/figures\/industrial-and-logistics-market-data-figures-second-quarter-2026-spain\" target=\"_blank\" rel=\"noreferrer noopener\">logistics take-up in Spain reached close to <strong>1.51 million square metres in the first half of 2026<\/strong><\/a>, 15% more than a year earlier. Madrid and Catalonia accounted for more than 70% of total absorption.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Growth is driven by several factors. E-commerce remains relevant, but it no longer explains demand on its own. The reorganisation of supply chains, nearshoring, the activity of logistics operators and the need to gain speed and resilience in distribution are also playing a role.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/09\/30\/smart-buildings-how-technology-can-create-real-estate-value\/\" target=\"_blank\" rel=\"noreferrer noopener\">This is raising the technical requirements for properties<\/a>. Companies are looking for greater clear height, better access, capacity to automate operations, energy efficiency and sufficient power capacity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The result is a wider gap between modern product and assets that require investment to adapt to these needs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Madrid leads, but supply is not homogeneous<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Madrid was once again one of the most active markets during the first half of the year. CBRE places take-up at around <strong>644,000 square metres<\/strong>, 57% more year-on-year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CG Capital Europe had already recorded more than 300,000 square metres during the first quarter and a prime rent of 6.75 euros per square metre per month according to its own methodology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">One of the most interesting aspects of the Madrid market is that relatively greater availability does not mean there is an abundance of suitable product. Aggregate vacancy may coexist with a shortage of modern, well-connected platforms with the technical specifications demanded by occupiers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is why <a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/04\/12\/types-of-assets-in-commercial-real-estate-offices-retail-and-more\/\" target=\"_blank\" rel=\"noreferrer noopener\">asset quality is gaining weight<\/a> over a reading based exclusively on available square metres.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Catalonia: low availability and pressure on rents<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Catalonia presents a different scenario. CG Capital Europe had already highlighted in the first quarter availability of just 3.07% and prime rents close to 9 euros per square metre per month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the first half of the year, CBRE places take-up close to <strong>467,000 square metres<\/strong>, 62% more year-on-year, while availability falls to around 2.7%. Prime rents reach 9.25 euros per square metre per month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The lack of product close to Barcelona is also changing the geography of demand. Part of the activity is moving towards the second and third rings, where there is more land availability and capacity to develop large surfaces.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this case, very low vacancy supports rents, but also limits expansion possibilities for some operators.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Valencia and regional markets gain weight<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Valencia maintains its position as one of the main logistics hubs outside Madrid and Catalonia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CG Capital Europe had already highlighted in the first quarter limited availability and a prime rent of around 5.65 euros per square metre per month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Subsequent CBRE data place <a href=\"https:\/\/www.cbre.es\/en-gb\/insights\/figures\/industrial-and-logistics-market-data-figures-second-quarter-2026-spain\" target=\"_blank\" rel=\"noreferrer noopener\">first-half take-up close to <strong>157,000 square metres<\/strong><\/a>, consolidating Valencia as the most active regional market outside the two major hubs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The growth of these markets reflects another structural change: distribution networks are becoming increasingly polycentric and no longer depend solely on Madrid or Barcelona.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Investment is recovering, but capital is more selective<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The investment market has also gained activity. According to CBRE, the volume invested in logistics reached <strong>690 million euros during the first half of the year<\/strong>, 24% more than a year earlier. International capital continued to account for the majority.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CG Capital Europe had already recorded more than 300 million euros in transactions during the first quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, more investment does not mean less demanding criteria.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Investors are paying particular attention to modern assets, consolidated locations and product capable of maintaining demand and rents over the long term. This greater selectivity is also visible at European level. Savills currently describes <a href=\"https:\/\/www.savills.co.uk\/insight-and-opinion\/savills-news\/394896\/european-logistics-market-enters-more-selective-phase-as-occupiers-prioritise-quality--power-and-performance\" target=\"_blank\" rel=\"noreferrer noopener\">a slower and more demanding logistics market<\/a>, but not a structurally weak one, where quality, power capacity and operational performance are redefining what a prime asset really means.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Asset quality matters more and more<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Logistics continues to benefit from long-term transformations, but it is not isolated from the economic cycle.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consumption, trade, industrial production, inventories and <a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/07\/14\/how-to-adapt-your-real-estate-investment-strategy-when-interest-rates-rise-or-fall\/\" target=\"_blank\" rel=\"noreferrer noopener\">financing costs<\/a> continue to influence demand. What is happening is that, in addition to these variables, there are structural trends that continue to support the sector: more resilient supply chains, automation, e-commerce and the need to gain efficiency.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This introduces growing polarisation between assets. A modern, well-located warehouse prepared for automation can maintain strong demand even when the market cools. An obsolete asset, with poorer connectivity or power limitations, may require new investment to remain competitive.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is why the strength of the sector <strong>does not equal the strength of any logistics asset<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Good fundamentals do not make every warehouse a good investment<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Occupational activity in 2026 confirms that logistics remains a central part of Spain\u2019s economic infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But from an investor\u2019s point of view, <a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/01\/16\/evaluating-real-estate-crowdfunding-projects-10-key-criteria\/\" target=\"_blank\" rel=\"noreferrer noopener\">good take-up or rent data are not enough<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It also matters how much is paid for the asset, <a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/07\/23\/how-value-is-created-in-a-cre-project-the-five-phases-of-a-value-add-strategy\/\" target=\"_blank\" rel=\"noreferrer noopener\">what return the market requires<\/a>, what future investment the property will need and to what extent it can maintain occupancy and rents over time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The main reading of 2026 is therefore twofold: <strong>logistics demand remains solid, but<\/strong> <a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/10\/02\/european-real-estate-investment-enters-a-new-stage-less-cycle-and-more-asset-selection\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>the market is becoming increasingly selective<\/strong><\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The growth in take-up and the scarcity of prime product continue to support the sector. At the same time, location, efficiency, automation and <a href=\"https:\/\/blog.urbanitae.com\/en\/2026\/08\/06\/contracts-in-cre-how-the-tenant-and-operator-influence-investment-risk\/\" target=\"_blank\" rel=\"noreferrer noopener\">tenant quality<\/a> are becoming increasingly important in an asset\u2019s ability to sustain its value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Logistics remains resilient. But, as is increasingly the case in European real estate, choosing the right asset matters as much as choosing the right sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Logistics take-up grew by 15% in the first half of 2026, while investment reached \u20ac690 million. We examine how the logistics market in Spain is evolving, with Madrid, Catalonia and Valencia as its main hubs.<\/p>\n","protected":false},"author":22,"featured_media":92562,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_templately_pack_id":"","_templately_imported_at":"","_templately_source":"","_templately_import_session_id":"","footnotes":""},"categories":[1027],"tags":[892,2104],"class_list":["post-92534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-investment-en","tag-logistics-sector","tag-real-estate-investment-2"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":8}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Logistics market in Spain: demand and selectivity in 2026<\/title>\n<meta name=\"description\" content=\"Demand remains strong in 2026, but the logistics market in Spain is more selective. 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Logistics market in Spain: demand and selectivity in 2026. March\u00e9 logistique en Espagne : demande et s\u00e9lection en 2026. Mercato logistico in Spagna: domanda e selettivit\u00e0 nel 2026. Mercado log\u00edstico em Espanha: procura e sele\u00e7\u00e3o em 2026. 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