Evolving occupier requirements have led to a 60% rise in the size of the average warehouse letting in Europe over the past decade – and with bigger deals come bigger sheds.
CBRE found the average European warehouse letting during the first half of 2022 stood at 11,000 sq m (118,400 sq ft), up by 60% since 2011.
Third-party logistics operators, retailers and manufacturers drove that rise in their hunt for assets that offer economies of scale and room for growing inventories, the agency said.
Evolving occupier requirements have led to a 60% rise in the size of the average warehouse letting in Europe over the past decade – and with bigger deals come bigger sheds.
CBRE found the average European warehouse letting during the first half of 2022 stood at 11,000 sq m (118,400 sq ft), up by 60% since 2011.
Third-party logistics operators, retailers and manufacturers drove that rise in their hunt for assets that offer economies of scale and room for growing inventories, the agency said.
Furthermore, XXL warehouses – defined as those of 50,000 sq m (538,000 sq ft) or more – now account for 24% of total take-up, compared to just 11% in 2011. Germany, the UK, France, the Netherlands, Poland and Spain have proved the most attractive locations for manufacturers to establish XXL warehouse locations.
Joerg Kreindl, head of occupier industrial and logistics for EMEA at CBRE, said: “Not only are we seeing warehouses growing in square footage terms, but the volume of these large deals is also increasing. We expect this trend to continue over the next few years, paired with consolidation of supply chains and producing economies of scale to occupiers.”
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