Logistics occupiers across Europe intend to increase their real estate footprint despite the ongoing economic headwinds, according to CBRE’s 2023 European Logistics Occupier Survey.
Some 67% of survey respondents said they plan to expand their logistics footprint and 30% of this group intend to do so by more than 10%.
A growing number of occupiers said they were willing to explore new locations in their search for space, with more than 58% of respondents stating they are considering emerging hubs or secondary locations with cost, access to labour and availability of space driving this decision.
Acquisition strategies have also evolved, with 43% of occupiers securing sites in advance of requirements and almost one-third of respondents said they are now partnering with developers and investors to streamline the leasing process.
Tasos Vezyridis, head of thought leadership, Europe, at CBRE, said: “It’s reassuring to see that despite the ongoing economic headwinds that are impacting market sentiment, many occupiers continue to seek out warehouse space and anticipate further business growth, which will help underpin the long-term fundamentals of the sector.”
Jack Cox, CBRE’s head of industrial and logistics for Europe, added: “With logistics now a mainstay of the boardroom agenda for many companies, real estate considerations are now business challenges that directly affect revenue and growth. As a result, the evolving partnership we are seeing between occupiers, investors and developers is very important and will play a crucial role in supporting the growth strategies of these companies and of the logistics sector going forwards.”
