Logistics: Leading from the front
The logistics sector has been the most popular commercial real estate sector for some time now. Investors have been attracted by the growth potential offered both by the trend to online retailing and by the need in some markets to replace obsolete stock with modern storage and distribution buildings.
According to DTZ, transaction volume in the European industrial/logistics sector last year stood at some €21 billion, a new record and driven by strong demand, especially across central and eastern Europe, and by improving economic sentiment. DTZ points out that retailers are moving quickly to tailor their logistics networks to the rising consumer demand for online shopping.
2014 was a record year for industrial/logistics in the United Kingdom, says DTZ; take-up last year was 3.03 million square metres and “23 national and regional records were broken.” The emphasis on quality space was evidenced by the record 1.37 million square metres of class A space that was take