European warehouses are getting bigger as occupier requirements continue to evolve

The average unit size of European logistics lettings has increased more than 60 percent since 2011, according to CBRE.

The average deal size reached 11,000 square meters (118,403 square feet) in the first half of 2022. This has been driven by third-party logistics operators, retailers and manufacturers searching for assets that can offer them economies of scale in their operations and provide enough room for increases in their inventories.

Furthermore, XXL warehouses (units of 50,000 square meters or more/538,196 square feet or more) now account for 24 percent of total take-up, compared to just 11 percent in 2011. This makes them a very relevant segment for the industry that often represent key strategic investments from occupiers.

The data from CBRE also shows increased appetite from manufacturing companies to get XXL logistics facilities in Europe, as they seek to bring supplies and stock closer to their end consumer. Germany, the United Kingdom, France, the N