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12.02.2010 17:52
© publics.bg
Flexibility of buildings and leases in the industrial and logistics property market has become vital in response to shorter business planning horizons and in order to suit the emerging space requirements of international occupiers in Europe, the Middle East and Africa (EMEA). This market pressure is driving the emergence of a two-tier market and sparking future change for tenants in the sector, according to latest research from CB Richard Ellis (CBRE).
As with other commercial property markets, leasing activity has fallen in the logistics market and rents declined by around 5% across Western Europe in 2009. In response to those market conditions and an uncertain economic outlook, organisations are expressing the need to review business planning decisions on a more frequent basis, which has heightened the importance of space flexibility and associated costs.
Occupiers in the industrial and logistics sector are striving for cost savings and efficiency gains through the acquisition of better quality space, as their needs are increasingly not being met by vacant, low quality sites in poor locations. A two-tier market is emerging, as demand for better quality space and vacancy of low quality space increase.
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