Industrial and Logistics, market data - Figures third quarter 2025 Spain

Absorption in the Central Zone reaches 750,000 square meters through the third quarter, which represents a growth of 6% compared to the same period of 2024. This behavior confirms the strength of demand, which remains positive despite the uncertain macroeconomic and political context, with closing forecasts aligned with the historical average.

The Catalan market reached 415,000 square meters in the first nine months of the year, which represents a decrease of 17% compared to the same period of 2024. Although demand remains active, the lack of available product in key areas continues to limit the closing of operations, conditioning the pace of absorption. Even so, the forecasts point to a year-end closing in line with historical levels.

After the first nine months of 2025, the rest of the logistics hubs show a heterogeneous evolution, with Valencia standing out as the most dynamic outside the main hubs. With nearly 370,000 square meters contracted and a growth of 37%, it consolidates as the third national market. Seville occupies the second position among the regional markets, reaching 171,000 square meters and marking a historical record. In Zaragoza, contracting stands at 113,000 square meters, 38% less than in 2024. Bilbao, for its part, maintains levels similar to the previous year, although conditioned by the scarcity of product suitable for demand. In Malaga, demand continues to show an agile absorption of the limited available supply.

The sector shows strength with more than 1 billion invested

Investment in the industrial and logistics sector has been 1.064 billion euros, which represents an increase of 18.5% compared to the 898 million euros of the same period a year earlier. This growth confirms the resilience of the market in a context marked by investor caution and sensitivity to macroeconomic conditions.

Looking ahead to the end of the year, the volume is expected to be around the average of recent years, reflecting a stable rather than expansive dynamic. A total of 37 operations have been closed, including 7 portfolios, two above 100 million euros.

Regarding the origin of capital, foreign investors maintain their leadership with 78% of the total, although national investment (22%) has grown significantly, driven by Family Offices.