Logistics real estate: a 1st quarter of 2022 in the momentum of 2021

CBRE, the world leader in business real estate consulting, reacts to the Immostat figures for the 1st quarter of 2022. This start to the year 2022 is part of a very positive dynamic, in line with 2021, but the current context leaves uncertainties hanging over the end of the year. Pierre-Louis Dumont, Executive Director Agence I&L France and François-Régis de Causans, Investment Director I&L take stock of this 1st quarter and plan for the next 9 months.

The user market: a 1st quarter of 2022 in line with 2021

With nearly 1 million m² placed in logistics across France (978 m²), the 700st quarter follows on from the end of 1, with an increase of 2021% compared to the 23st quarter of 1 and is positioned more generally as a very good quarter. The food industry was particularly active during this first quarter, reflecting the dynamism of this economic sector, and its corollary the continued reorganization of their supply chain in a competitive environment, with, in particular, several XXL transactions recorded. "Users' needs are real, but the geopolitical climate is pushing some to be more cautious in decision-making, especially for larger projects," comments Pierre-Louis Dumont, Executive Director of Agence I&L France.

The tension on supply continues to hold back certain markets such as Rhône-Alpes or even PACA, which is pushing companies to position themselves in alternative locations in the 2nd or even 3rd ring of metropolitan areas. “This postponement phenomenon testifies to the needs and the desire to make users despite a lack of supply. However, this increasing distance from distribution hubs comes at the cost of additional transport costs and an undesired environmental impact,” adds Pierre-Louis Dumont.

Investment surfs on the dynamism of the user market

The fundamentals of the logistics market remain very good. “In this context of uncertainty, products with secure long-term rental flows are still sought after by the majority of investors. "Non-purchased products or products with short lease terms continue to appeal to those seeking to capture growth in rental values and thus generate higher returns over the coming years", comments François-Régis de Causans, I&L Investment Director. However, beyond the structural and long-term appeal of this asset class, the current climate is particularly complex and short- and medium-term trends are not clearly identified.