740,000 Square Metres Contracted by September

Barcelona's logistics market has seen a 70% year-on-year increase in contracted space during the first nine months of 2026, according to real estate firm Forcadell. Between January and September, nearly 740,000 square metres of logistics space were leased, far surpassing the total volume recorded for all of 2025. JLL provides a slightly lower estimate of 728,688 square metres, equating to 65% growth, but confirms the same trend: demand is outpacing previous years significantly.

Large-Scale Leases Drive Growth

The surge is being driven by large operations. According to Forcadell, 21 leases were signed in the third quarter alone, with an average size of 12,057 square metres. Ten of these contracts exceeded 10,000 square metres and accounted for 82% of all space leased between July and September, totalling 206,458 square metres. One of the largest deals was retailer Consum’s lease of a 50,000 square metre warehouse in Barcelona’s Zona Franca. Such high-value transactions are reshaping the quarterly market balance.

64% of the surface area contracted during the third quarter corresponds to new construction properties

New Warehouses Enable Deals

The entry of new warehouse developments has been crucial. Forcadell reports that 64% of space leased in Q3–162,946 square metres, was in newly built properties. The remaining 36%, around 90,000 square metres, was in existing facilities. This influx has allowed previously unmet demand to materialise, especially after 2025, when warehouse shortages hampered operations.

Second Ring Leads Quarter, Third Ring Leads Year

Activity is spread across Barcelona’s three logistics rings. In the third quarter, the second ring, covering the immediate metropolitan area, led with 92,043 square metres, or 36% of total contracts, according to Forcadell. However, over the full year, JLL data shows the third ring, locations further from the city, accounts for 44% of contracted space, indicating sustained demand in outlying areas.

Rising Rents Amid Tight Supply

Rental prices are rising, particularly near the city. JLL reports prime rents in the first ring reached 9.25 euros per square metre per month in Q3, a 2.8% increase year-on-year. Forcadell notes the same figure but cautions the sample size is small. In the second ring, the weighted average rent rose to 7.10 euros per square metre per month from 6.80 euros in Q2. In the third ring, rents range from 3.50 to 5.25 euros, depending on warehouse age.

Availability Rate at 1.9%

JLL places the current availability rate at just 1.9%, severely limiting options for companies seeking space. Only 55% of the 103,000 square metres added in Q3 remains vacant. There are 200,575 square metres under construction for delivery in Q4. However, only 61,520 square metres (31%) are being built speculatively, without a committed tenant, reflecting the prevalence of built-to-suit developments.

Investment Hits 183 Million Euros

Investor interest remains strong. Logistics real estate transactions in Catalonia totalled approximately 183 million euros between January and September, according to JLL. This represents 14% of national investment in the sector. One notable deal was AEW’s acquisition of a 10,700 square metre warehouse in Lliçà d'Amunt.

Reported by thenewbarcelonapost.com, clusterlogistic.org, forcadell.com, alimarket.es, Pere Masachs, The New Barcelona Post.