The report points out that much of the available land in established distribution locations, such as the 'distribution triangle' between Vallès Occidental and Vallès oriental, is now built out. This scarcity of land is driving up values, and according to King Sturge prime sites can now fetch between €210 and €510 per sq m ($17.75 to $43.10 per sf) - up 30% to 40% in a year.
High land values are driving new logistics and warehousing developments even further out from the city, to locations like Alt Penedès 45km (28 miles) from Barcelona.
King Sturge calculates that there is currently about 584,000 sq m (6.25 million sf) of available industrial space in Barcelona, out of a stock of 9.5 million sq m (102 million sf). This figure has fallen by 6% in a year, and much of the remaining space is in older industrial buildings.
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