The first three months of 2022 marked the highest occupier activity for any first quarter on record, and the third highest overall. Take-up of logistics space across Europe in Q1 exceeded 7.6 million sq. m, up 22% on Q1 2021, and 50% if compared to the 5-year Q1 average.
Driven by tightening supply, rising land values, increasing property costs and higher construction costs, upward pressure on rents remains widespread while development activity remains on robust levels.
On the investor side, the European industrial investment market started 2022 with an unprecedented level of activity, despite uncertain economic conditions and a market characterized by a growing shortage of institutional grade product.
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