The second quarter of 2016 (Q2) continues to show strong interest from the demand for local and prime shopping centers in Madrid and Barcelona. so says the quarterly report Spain Country Snapshots published in 24 countries covering all
sectors (retail, office and logistics) by Cushman & Wakefield, a global leader in real estate Services.
Given the lack of available spaces in prime locations in both cities,It highlights the fact that tenants show willingness to pay higher rents in order to maintain their good locations and therefore privileged situation within from the sector. While stabilization is observed in rental prices in the sector retail in general, it can be detected an increase of 1.9% in prime locations in Madrid over the previous year. The forecasts anticipate the opening of approximately 340,000 m²
intended for retail space in the second half of the year in Spain, it is mainly of three new shopping centers and three retail parks, among others.Although the major cities remain Madrid and Barcelona, others like Seville, Bilbao,
Valencia, Malaga and Palma de Mallorca, is expected to continue to gain weight within the retail sector in the course of this year.
Moreover, the logistics market, Barcelona has presented notable figures in concerning the hiring of space thanks mainly to project longscale representing the implementation of the logistics plant in El Prat de AmazonLlobregat. With this space, 60,000 sqm, the city has reached 161,000 m² occupied this 2T. These figures, similar to the same period of 2015, in contrast to the 34,000 m² hired in Madrid. Anyway, forecasts indicate the timing of the situation in the Spanish capital, the expected growth of the economy will have an impact positive occupancy levels in the coming quarters, the firm also expected those operations that ultimately failed to close in the second quarter.