SPAIN – current pipeline

Spain has a population of close to 48 million and one of Europe’s largest manufacturing bases, concentrated across Catalonia, Valencia, Aragón and the Basque Country. Logistics demand is anchored on three markets. Madrid accounts for roughly a fifth of national output and is served by the Henares corridor along the A-2, where availability has tightened sharply. Barcelona combines a metropolitan population of around 5 million with its port and the land bridge into France, while Valencia adds the busiest container port on the western Mediterranean.

Ecommerce penetration remains below northern European levels and continues to converge, and nearshoring is directing manufacturing and inventory back into Iberia. Prime rents remain well below France, the Netherlands and the United Kingdom, leaving a longer runway for rental growth.