Our Spec Map shows that circa 5.4 million sq ft of speculatively developed space was delivered by end-June 2019. In addition, we are tracking circa 5.5m sq ft of space currently under construction with scheduled completion for this year. This indicates that 2019's total completed warehouse space will surpass this cycle's previous record of circa 9.0 million sq ft witnessed in 2016.
To put these figures into context, the 5-yr annual average (2014-'18) amount of speculative space completed stands at 5.5 million sq ft, and prior to that the market saw hardly any activity post-2008 global financial crisis.
I hope you will find this study highly informative and if you would like further information, please do not hesitate to get in touch.
Head of Industrial & Logistics
+44 7831 436 096